NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CME 13-9339-BC

NON-MEMBER:

Ontario Teachers’ Pension Plan Board

CME RULE VIOLATIONS:

Rule 562. (“POSITION LIMIT VIOLATIONS”) (in part)
Any positions in excess of those permitted under the rules of the Exchange shall be deemed position limit violations. Additionally, any person making a bid or offer that would, if accepted, cause such person to exceed the applicable position limits shall be in violation of this rule.

FINDINGS:

Pursuant to an offer of settlement in which Ontario Teachers’ Pension Plan Board (“OTPP”) neither admitted nor denied the rule violation upon which the penalty is based and after consenting to the jurisdiction of the Exchange under Rule 418, on April 30, 2014, a Panel of the CME Business Conduct Committee (“Panel”) found that on March 5, 2013, and March 6, 2013, OTPP carried positions in excess of the single month speculative position limit in June 2013 Lean Hog Futures by approximately 2.1% and 2.6%, respectively. OTPP liquidated its overage position at a profit of $17,899.82. The Panel concluded that OTTP thereby violated CME Rule 562.

PENALTY:                          

In accordance with the settlement offer the Panel ordered OTPP to pay a fine of $15,000 and disgorgement of $17,899.82.

EFFECTIVE DATE:            

May 2, 2014