International derivatives marketplace CME Group has posted a notice of disciplinary action against Chicagoland Consulting, Inc.
Pursuant to an offer of settlement in which Chicagoland, a Revenue Sharing Association, neither admitted nor denied the rule violations upon which the penalty is based, a Panel of the Chicago Mercantile Exchange (CME) Business Conduct Committee found that on multiple occasions between January 26, 2021, and June 25, 2021, brokers in Chicagoland changed the broker of record after a trade was consummated in the Eurodollar options pit for the purpose of avoiding the limits that Exchange Rule 515.E. imposes on the percentage of personal trading volume that members of a broker association may execute with one another.
The Panel found that Chicagoland failed to diligently supervise its brokers.
Additionally, the Panel found that during this same period, Chicagoland failed to properly register as a single broker association based on their floor brokerage activity.
The Panel concluded that Chicagoland violated CME Rules 432.W. And 515.B.6.
In accordance with the settlement offer, the Panel ordered Chicagoland to pay a $75,000 fine.
The effective date of the disciplinary notice is October 8, 2025.
