Empower Innovation 2020, a three-part series of interactive virtual events designed to facilitate a dialogue among innovators, regulators, market participants, and the public around cutting-edge fintech innovation.
CFTC will host each of these events virtually, using the Whova event management platform. Attendees are encouraged to register to engage as part of this virtual experience with speakers and panelists, including live polling, surveys, and Q&A during sessions. CFTC will also provide a view-only, webcast on the day of the event for attendees who would like to listen in on session discussions of the day.
Washington, D.C. — The Commodity Futures Trading Commission today issued an order filing and settling charges against Sukarne SA de CV, a Mexico-based meat processor, for violating live cattle futures speculative position limits. The order requires Sukarne to pay a $35,000 civil monetary penalty. This case is brought in connection with the CFTC’s Livestock Markets Task Force.
The order finds that on June 23, 2020, Sukarne held a net short position of 500 contracts in the Chicago Mercantile Exchange (CME) June 2020 live cattle futures contract. This exceeded the spot month speculative position limit of 300 contracts established by CME.
The CFTC’s investigation was conducted in conjunction with a related inquiry by CME, which today also announced a disciplinary action against Sukarne. In determining its penalty, the CFTC recognized that CME has imposed a $25,000 sanction on Sukarne for violating the exchange’s position limits rules, raising the total monetary...
The world’s derivatives markets saw more than $640 trillion in trading activity in the first six months of 2019 alone. At the heart of these global markets are clearinghouses known as central counterparties, where futures, swaps and options transactions are cleared and settled. The efficient and proper functioning of central counterparties is critical to the health of the global financial system and the economic well-being of the more than 770 million people in the EU and U.S.
Derivatives allow companies to hedge their risk,...
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