International derivatives marketplace CME Group has posted a notice of disciplinary action against Ironbeam, Inc.

Pursuant to an offer of settlement in which Ironbeam neither admitted nor denied the rule violation or factual findings upon which the penalty is based, a Panel of the Chicago Mercantile Exchange (CME) Business Conduct Committee found that on October 30, 2025, Ironbeam failed to maintain adequate procedures and controls to ensure compliance with CFTC Regulation 1.25 concentration limits following a reduction in segregated assets.

Specifically, following withdrawal of customer funds on deposit, Ironbeam’s total segregated assets decreased. Consequently, the firm’s existing segregated investments in money market mutual funds (MMMFs) exceeded the 50% concentration limit for MMMFs of total assets held in segregation and exceeded the 10% issuer-based concentration limit on individual MMMFs.

Ironbeam failed to liquidate a portion of its MMMF holdings prior to the close of business on that date to remain in compliance with the concentration limits.

On October 31, 2025, Ironbeam recognized the issue and liquidated a portion of its holdings in MMMFs and returned to compliance. The Panel concluded that Ironbeam thereby violated CME Rule 971.A.

In accordance with the settlement offer, the Panel ordered Ironbeam to pay a $50,000 fine.