Investigations

The Investigations team is responsible for detecting and investigating potential trade practice violations.

Trade practice inquiries generally originate from one of three sources: complaints; programmatic reviews of potential trade practice violations; and research performed by Market Regulation Investigators. During the course of reviewing complaints, trade practice program output, and research, the Investigations team may request information from participants and firms. The team may also request that individuals participate in recorded interviews. At the conclusion of the review, the Investigations team determines whether a formal investigatory case should be opened. Parties who are the subject of an investigation will be notified.

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Trade practice violations reviewed by the Investigations team include:

Wash Trades
Prearranged, Pre-Negotiated, and Noncompetitive Trades
Trading Ahead of Customer Orders
Disruptive Practices
Money-Passes
Block Trade Infractions
Trading at Settlement Manipulation

Investigators detect and examine misconduct through several methods including:

Employing sophisticated regulatory systems
Investigating complaints
Examining transactional data
Analyzing documentary evidence
Reviewing video evidence

At the conclusion of an investigation, the Investigations team will determine whether there is reason to believe a rule violation has occurred. If the team determines no violation occurred, the matter will be closed administratively with no action taken. If the team determines there is reason to believe a rule violation has occurred but that the circumstances do not warrant formal disciplinary action, the matter may be closed administratively or closed with the issuance of a letter of warning. Alternatively, if the team determines the circumstances warrant formal disciplinary action, the matter will be formally referred to the Market Regulation Enforcement team.

Market Regulation thoroughly investigates every complaint. To file a trade practice complaint, call the Regulatory Hotline at +1 312 930 3333 or complete the File a Complaint form.

For full details of prohibited trade practices, consult our Exchange-Specific Rulebooks and Market Regulation Advisory Notices. For questions about Exchange rules, call the Market Regulation Department at +1 312 341 7970.

Latest MRANs
- CBOT-16-0601-BC-CARGILL-URUGUAY-SOCIEDAD-ANONIMA - May 01, 2017
- CBOT-15-0296-BC-RBC-CAPITAL-MARKETS-LLC - May 01, 2017
- NYMEX-15-0091-BC-NATIONAL-BANK-OF-CANADA - April 17, 2017
- NYMEX-16-0527-BC-FRERE-HALL-CAPITAL-MANAGEMENT-LLP - April 17, 2017
- NYMEX-15-0269-BC-ISAIAH-KINGSTON - March 31, 2017
- NYMEX-16-0452-BC-OAKLEY-FUELS-INC - March 31, 2017
- COMEX-15-0274-BC-GUOSHENG-LI - March 31, 2017
- CBOT-15-0158-BC-SAXO-BANK-AS - March 20, 2017
- NYMEX-15-0200-BC-6-BUNKERBRIDGE-PTE-LTD - March 01, 2017
- NYMEX-15-0315-BC-1-OAK-FUTURES-LTD - February 19, 2017

Latest SERs
- SER-7960 - July 27, 2017
- SER-7647 - February 19, 2017

Resources

- Read more
- CME Globex Reference Guide
- Read CME Globex Reference Guide
- View the CME Globex reference guide for information on CME Group’s electronic trading platform.

- Read more
- GCC Product Reference Sheet
- View GCC Product Reference Sheet
- Read this regularly updated resource for information on tradable instruments on CME Globex.

- Read more
- GCC Price Banding Settings Guide
- View GCC Price Banding Settings Guide
- Read this resource for information on futures and options price banding, as well as price banding rules.

- Read more
- View Disciplinary Actions
- View Disciplinary Actions
- Read the latest disciplinary actions.

Contact Us

If you have questions for the Investigations team, contact the Market Regulation Department
+1 312 341 7970

For questions related to CME Globex, contact
CME Globex GCC

CME Globex Customer support is available 24 hours a day, from 2:00 p.m. Sunday through 4:30 p.m. Friday, Central time.

United States: +1 800 438 8616
Europe: +0800 898 013

Asia: +65 6532 5010
gcc@cmegroup.com

More in Market Regulation

- Read more
- Market Regulation Home
- Market Regulation Home
- Read an overview of the Market Regulation department.

- Read more
- Data Investigations
- Data Investigations
- The Data Investigations team works to ensure accurate identification of order flows and resulting trades by clearing and trading firms and individual members.

- Read more
- Market Surveillance
- Market Surveillance
- Market Surveillance works to identify and amend situations that may undermine fair and orderly trading of Exchange markets.

- Read more
- Enforcement
- Enforcement
- The Market Regulation Enforcement team aims to resolve rule violations via each Exchange’s disciplinary process.

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Who We Are

CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.