CBOT fines StoneX $20K for trade transfer violations

The Chicago Board of Trade (CBOT), a designated contract maker for CME Group, has announced penalty imposed on StoneX Financial Inc. over allegations of violating its trade transfer rule. StoneX received a fine in the amount of $20,000.

The CBOT issued the fine on Friday, stating that the CBOT Business Conduct Committee found that on 23 and 30 October 2019, StoneX, in its capacity as a clearinghouse, “transferred positions between customer accounts with different beneficial ownership and without appropriate Exchange approval.”


CBOT stated:

The transfers were not made to reconcile an error, omission, or outtrade.

CBOT also noted that StoneX has self-reported the transfers, however it had neither admitted nor denied the allegations.

LeapRate recently reported that StoneX, formerly known as INTL FCStone, registered excellent financials for the fourth quarter of the fiscal year 2020. The company reported growth in quarterly operating revenue and income and an $81.8 million “bargain purchase” on the acquisition of GAIN Capital.

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