International derivatives marketplace CME Group has suspended Liliana Amorim Givisiez, a Brazil-based institutional trader for alleged violations of the wash trades prohibition.

Pursuant to an offer of settlement in which Givisiez neither admitted nor denied the rule violation or factual findings upon which the penalty is based, a Panel of the Chicago Board of Trade (CBOT) Business Conduct Committee found that on February 9, 2024, Givisiez sold March 2024 Soybean TAS futures opposite her colleague’s buy orders for the same account. Givisiez and her colleague entered their opposing orders to close positions that served as hedges for expiring options and forward contracts positions.

Givisiez knew or reasonably should have known that the purpose of her orders was to avoid taking a bona fide market position exposed to market risk.

The Panel thereby concluded that Givisiez violated CBOT Rule 534.

In accordance with the settlement offer, and after taking her financial condition into consideration, the Panel ordered Givisiez to be suspended from all direct and indirect access to any designated contract market, derivatives clearing organization, or swap execution facility owned or controlled by CME Group Inc. for 30-business days. The suspension will continue through and include trade date March 2, 2026.