Rule 539. PREARRANGED, PRE-NEGOTIATED AND NONCOMPETITIVE TRADES PROHIBITED (in part)
A. General Prohibition – No person shall prearrange or pre-negotiate any purchase or sale or noncompetitively execute any transaction…
Pursuant to an offer of settlement in which Kevin McLaren neither admitted nor denied the rule violation upon which the penalty is based, on June 12, 2013, a Panel of the CBOT Business Conduct Committee found that on February 25, 2010, Kevin McLaren engaged in prearranged transactions opposite another in order to freshen his positions in March 2010 Corn futures. In so doing, the Panel found that Kevin McLaren violated CBOT Rule 539.
In accordance with the settlement offer, and the Panel suspended Kevin McLaren’s indirect and direct access to any electronic trading and clearing platform owned or controlled by CME Group, Inc. for three months.
June 14, 2013
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