Product Groups
Getting Started
Learn why traders use futures, how to trade futures, and what steps you should take to get started.
Market Regulation Advisory Notices View All MRANs
Distributors
Intraday Data
Subscription Based Data
Learn why traders use futures, how to trade futures, and what steps you should take to get started.
FILE NO.:
CME 06-27375-BC
MEMBER:
CHARLES ESCOBAR (XBAR)
(LEGACY) CME RULES:
539. Prearranged, Pre-Negotiated and
Noncompetitive Trades Prohibited
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 Charles Escobar neither admitted nor denied the findings, on March 23, 2010, a Panel of the CME Business Conduct Committee found that on September 21, 2006, while in the Russell 2000® Stock Price Index futures pit, Escobar engaged in a noncompetitive trade while filling a customer order. The panel found that in doing so, Escobar violated legacy CME Rule 539.A., as a minor offense.
PENALTY:
In accordance with the settlement offer, the Panel fined Escobar $10,000, and suspended his membership privileges, access to the floor of any CME Group exchange and having direct access to all CME Group electronic trading and clearing platforms for 7 business days. The suspension will run from April 8, 2010, through April 16, 2010, inclusive.
EFFECTIVE DATE:
March 25, 2010
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.
CME Group / Chicago HQ
Phone: +1 312 930 1000
Toll Free (US Only): +1 866 716 7274
© 2019 CME Group Inc. All rights reserved.
Careers | Site Map | Disclaimer | Privacy Policy | Cookie Policy | Terms of Use | Modern Slavery Act Transparency Statement