• NOTICE OF DISCIPLINARY ACTION

      • #
      • CBOT 17-0835-BC
      • Effective Date
      • 20 September 2019
    • FILE NO.:

      CBOT 17-0835-BC

      MEMBER:

      Wherrett Trading LLC

      CBOT RULE VIOLATION:

      Rule 562. Position Limit Violations

      Any positions in excess of those permitted under the rules of the Exchange shall be deemed position limit violations.

      FINDINGS:

      Pursuant to an offer of settlement in which Wherrett Trading LLC (“Wherrett”) neither admitted nor denied the rule violations or factual findings upon which the penalty is based, on September 18, 2019, a Panel of the Chicago Board of Trade (“CBOT”) Business Conduct Committee (“Panel”) found that on trade date November 30, 2017, Wherrett held a futures equivalent long position of 658 December 2017 Corn futures contracts, which was 58 contracts (9.67%) over the spot month position limit in effect. Wherrett liquidated the position within two hours of the overage. The Panel concluded that Wherrett thereby violated CBOT Rule 562.

      PENALTY:

      In accordance with the settlement offer, the Panel ordered Wherrett to pay a fine of $15,000.

      EFFECTIVE DATE:

      September 20, 2019