International derivatives marketplace CME Group has fined Infini Capital Management Ltd for its alleged CBOT rule violations.
Pursuant to an offer of settlement in which Infini Capital Management Ltd. neither admitted nor denied the rule violation or factual findings upon which the penalty is based, a Panel of the Chicago Board of Trade Business Conduct Committee found that on October 31, 2023, an Infini Capital trader entered buy and sell orders in December 2024 10-Year U.S. Treasury Note futures and November 2023 10-Year U.S. Treasury Note Weekly options on futures markets that matched opposite each other for accounts with common beneficial ownership.
The Infini Capital trader entered the opposing orders on behalf of Infini Capital to transfer positions between accounts.
The Panel further found that Infini Capital failed to diligently supervise its trader to ensure compliance with CBOT rules regarding wash trade activity and thereby violated CBOT Rule 432.W.
In accordance with the settlement offer, the Panel ordered Infini Capital to pay a fine in the amount of $45,000 in connection with this case and its companion cases on CME and COMEX.
