NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CBOT 10-7975-BC

MEMBERS:

Edward Gorman
 

CBOT RULE:

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…

FINDINGS:

Pursuant to an offer of settlement in which Edward Gorman 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, Edward Gorman engaged in prearranged transactions opposite another in order to freshen his position in March 2010 Corn futures. In so doing, the Panel found that Edward Gorman violated CBOT Rule 539.

PENALTY:

In accordance with the settlement offer, the Panel suspended Edward Gorman from indirect and direct access to any electronic trading and clearing platform owned or controlled by CME Group, Inc. for three months.

EFFECTIVE DATE:

June 14, 2013