CFTC Charges CME Group’s New York Mercantile Exchange and Two Former Employees with Disclosing Material Nonpublic Information about Customer Trades
bix weirWashington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today filed an enforcement action charging the New York Mercantile Exchange, Inc. (CME NYMEX), which is owned and operated by the CME Group, and two former CME NYMEX employees, William Byrnes and Christopher Curtin, with violating the Commodity Exchange Act and CFTC Regulations through the repeated disclosures of material nonpublic customer information over of period of two and one-half years to an outside commodity broker who was not authorized to receive the information.
We’ll see how this plays out but it looks like “business as usual” at the COMEX is Ending! This bodes well for the criminals at the CME to be brought down with JP Morgan in the silver scandal.
Again, this topic was touched upon in this week’s Road Trip…
Friday Road Trip 2/22/2013 (Members)
More on this next week.
Bix Weir