International derivatives marketplace CME Group has fined and suspended Benjamin Roth for alleged violations of Exchange rules.
Pursuant to an offer of settlement in which Benjamin Roth neither admitted nor denied the rule violations or factual findings upon which the penalty is based, on June 26, 2024, a Panel of the Chicago Mercantile Exchange (CME) Business Conduct Committee found that on several occasions between January 3, 2023, and February 2, 2023, Roth entered orders in the March 2023 E-Mini S&P 500 futures and the March 2023 Australian Dollar futures markets with the intent, at the time of order entry, to cancel the orders before execution or to modify the orders to avoid execution.
Specifically, Roth entered a larger order on one side of the market and then canceled that order after his smaller resting order on the opposite side of the book was executed….
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