CME Group has published disciplinary notices against four traders who violated its Rule 539.A which prohibits market participants from prearranging or pre-negotiating any purchase or sale or non-competitively executing any transaction.

Hyun Chil Cho will have to pay a fine in the amount of $20,000. He is also suspended from any trading floor owned or controlled by CME Group and from direct and indirect access to any designated contract market, derivatives clearing organization or swap execution facility owned or controlled by CME Group for a period of one year.

On May 4, 2020, the Chief Regulatory Officer of the CME Group’s Designated Contract Markets charged Hyun Chil Cho with violating CME Rule 539.A. based on allegations that on one or more occasions between November 2018, and December 2018, Cho pre-arranged or pre-negotiated the purchase or sale of December 2018 E-Mini Nasdaq futures on Globex.

Specifically, Cho engaged in a pattern of trading in pairs where Cho aggressively entered or modified an order into the market and traded against another trader’s resting orders several levels deep in the order book, typically in a round-turn fashion. In other instances, if the other trader’s orders did not receive a full fill from Cho, the other trader would immediately follow with an aggressive order entry or modification to take advantage of the price movement caused by Cho’s activity.

Myung Hee Park will have to pay a fine in the amount of $45,000. Hee is also suspended from any trading floor owned or controlled by CME Group and from direct and indirect access to any designated contract market, derivatives clearing organization or swap execution facility owned or controlled by CME Group for a period of one year.

On May 4, 2020, the Chief Regulatory Officer of the CME Group’s Designated Contract Markets charged Myung Hee Park with violating CME Rule 539.A. based on allegations that on one or more occasions between November 2018, and December 2018, Hee pre-arranged or pre-negotiated the purchase or sale of December 2018 E-Mini Nasdaq futures on Globex. Specifically, Hee engaged in a pattern of trading in pairs where Hee aggressively entered or modified an order into the market and traded against two other traders’ resting orders several levels deep in the order book, typically in a round-turn fashion. In other instances, if the other two traders’ orders did not receive a full fill from Hee, the other two traders would immediately follow with an aggressive order entry or modification to take advantage of the price movement caused by Hee’s activity.

Deok Yeon La will have to pay a fine in the amount of $35,000. La is suspended from any trading floor owned or controlled by CME Group and from direct and indirect access to any designated contract market, derivatives clearing organization or swap execution facility owned or controlled by CME Group for a period of one year.

On May 4, 2020, the Chief Regulatory Officer of the CME Group’s Designated Contract Markets charged Deok Yeon La with violating CME Rule 539.A. based on allegations that on one or more occasions between November 2018, and December 2018, La pre-arranged or pre-negotiated the purchase or sale of December 2018 E-Mini Nasdaq futures on Globex.

Specifically, La engaged in a pattern of trading in pairs where another trader aggressively entered or modified an order into the market and traded against La’s resting orders several levels deep in the order book, typically in a round-turn fashion. In other instances, if La’s orders did not receive a full fill from the other trader’s orders, La would immediately follow with an aggressive order entry or modification to take advantage of the price movement caused by the other trader’s activity.

Finally, Min Jae Park has been ordered to pay a fine in the amount of $35,000. Jae is suspended from any trading floor owned or controlled by CME Group and from direct and indirect access to any designated contract market, derivatives clearing organization or swap execution facility owned or controlled by CME Group for a period of one year.

On May 4, 2020, the Chief Regulatory Officer of the CME Group’s Designated Contract Markets charged Min Jae Park with violating CME Rule 539.A. based on allegations that on one or more occasions between November 2018, and December 2018, Jae pre-arranged or pre-negotiated the purchase or sale of December 2018 E-Mini Nasdaq futures on Globex.

In particular, Jae engaged in a pattern of trading in pairs where another trader aggressively entered or modified an order into the market and traded against Jae’s resting orders several levels deep in the order book, typically in a round-turn fashion. In other instances, if Jae’s orders did not receive a full fill from the other trader’s orders, Jae would immediately follow with an aggressive order entry or modification to take advantage of the price movement caused by the other trader’s activity.

The suspensions of the four traders are effective December 31, 2020.