NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CME 09-05929-BC

FORMER MEMBER:

THORBJORN HAVEMAN

CME RULE VIOLATIONS:

Rule 432 General Offenses

B. to engage in fraud, bad faith….

D. to create or report a false or fictitious trade.

Q. to commit an act which is detrimental to the interest or welfare of the
Exchange….

FINDINGS:

Pursuant to an offer of settlement in which Thorbjorn Haveman neither admitted nor denied the rule violations upon which the penalty is based, on October 14, 2010, a Panel of the CME Business Conduct Committee found that from September 2008 through February 2010, Haveman created fictitious trades for the purpose of moving money into his personal trading account from the accounts of several other traders for whom Haveman acted as a clerk. In so doing, the Panel found that Haveman violated CME Rules 432.B, 432.D. and 432.Q.

PENALTY:

In accordance with the settlement offer, the Panel fined Haveman $100,000, ordered him to make restitution to the affected members in the amount of $218,425 and never again: (1) apply for membership at any CME Group exchange; (2) access and use any trading floor or electronic trading or clearing platform owned or operated by any CME Group exchange; or (3) be affiliated with, employed by, have an interest in, or associate with a broker association, guaranteed introducing broker, Member or affiliate of a Member registered with any CME Group exchange, trading platform or clearing platform.

EFFECTIVE DATE:

October 18, 2010