International derivatives marketplace CME Group has published a notice of disciplinary action against Louis Dreyfus Company LLC, a commercial trading firm located in the United States.

Pursuant to an offer of settlement in which Louis Dreyfus neither admitted nor denied the rule violations or factual findings upon which the penalty is based, a Panel of the New York Mercantile Exchange Business Conduct Committee found that on July 26, 2024, a Louis Dreyfus trader entered buy and sell orders in the September 2024 NY Harbor ULSD TAS futures market that matched opposite each other for the same account.

The Louis Dreyfus trader knew or reasonably should have known that the purpose of the orders was to avoid taking a bona fide market position exposed to market risk. The trader bought and sold for the account in order to manage risk in two sub accounts that were exposed to the firm’s biodiesel production business.

The Panel further found that Louis Dreyfus failed to diligently supervise its trader to ensure compliance with NYMEX rules regarding wash trade activity.

The Panel concluded that Louis Dreyfus violated NYMEX Rules 432.W. And 534.

In accordance with the settlement offer, the Panel ordered Louis Dreyfus to pay a fine in the amount of $45,000.

The effective date of the disciplinary notice is May 21, 2026.