International derivatives marketplace CME Group has posted a notice of disciplinary action against Citigroup Global Markets Inc.

Pursuant to an offer of settlement in which Citigroup Global Markets Inc (CGMI) neither admitted nor denied the rule violation or factual finding upon which the penalty is based, a Panel of the Chicago Board of Trade (CBOT) Business Conduct Committee found that CGMI contractually agreed to a period of time during which the firm’s full discretion to determine when and under what circumstances positions could be liquidated was restricted.

The Panel concluded that CGMI thereby violated CBOT Rule 930.K.

The Panel also found that CGMI has since amended the relevant customer agreement language and the cited customer agreements are now in compliance with Exchange rules.

In accordance with the settlement offer, the Panel ordered CGMI to pay a $150,000 fine.