SUMMARY ACCESS DENIAL ACTION

FILE NO.:

CBOT 11-8254

NON-MEMBER:

Peter Helmut Stüdemann
AKA Peter Stuedemann
AKA Pete Kosto

CBOT RULE:

413 – SUMMARY ACCESS DENIAL ACTIONS
Non-members may be denied access to any or all CME Group markets or be denied access to the Globex platform or any other electronic trading or clearing platform owned or controlled by CME Group by the Chief Regulatory Officer or his delegate upon a good faith determination that there are substantial reasons to believe that such immediate action is necessary to protect the best interests of the Exchange.

BASIS OF ACTION:

On November 2, 2012, CME Group's Market Regulation Department, through its Chief Regulatory Officer, summarily denied non-member Peter Stüdemann (“Stüdemann”)(aka Peter Studemann, aka Pete Kosto) access to all markets owned or operated by CME Group Exchanges, including the CME Globex electronic trading platform, all trading floors owned or controlled by CME Group, and all clearing platforms owned or controlled by CME Group. The summary access denial prohibits Stüdemann, from trading, placing orders (on his own or someone else's behalf), or soliciting business for trade execution on any exchange owned or controlled by CME Group, including CME, CBOT, NYMEX and COMEX. Stüdemann is also precluded from affiliating or doing business with any member or member firm at CME, CBOT, NYMEX or COMEX.

This action is based upon a good faith determination that there are substantial reasons to believe that such immediate action is necessary to protect the best interests of the Exchanges and their market participants. In particular, it is based upon a good faith belief that Stüdemann (both individually and through three websites he controls - www.options-selling.com, www.dow-trading.com and www.t-bonds-trading.com) solicited services to manage and/or advise the trading of various commodity options contracts for individual customer accounts over the CME Globex electronic trading platform. Stüdemann received payments for the solicited services. Further, Stüdemann appears to have executed and/or directed the execution of, trades for his customers’ accounts that he prearranged for the purpose of: (i) passing money from those customer accounts to his personal account and/or a friend’s account; and (ii) creating the false appearance of legitimate trading activity. Stüdemann has represented, and continues to represent, that he is a registered commodity trading advisor (“CTA”) under the Commodity Exchange Act even though no such registration is currently active with the National Futures Association.

ACCESS DENIAL:

Pursuant to Rule 413, this access denial will remain in effect for no more than 60 days, unless the Market Regulation Department provides Stüdemann with notice that there will be a one-time extension of the access denial for 60 additional days.

EFFECTIVE DATE:

November 6, 2012