CME Group Slaps Logista Advisors with $180k Fine for NYMEX Rule Breach
CME Group has imposed a $180,000 fine on Logista Advisors LLC for violating NYMEX Rule 432.B.2.
The disciplinary action was taken after a trader at Logista Advisors entered orders in the Henry Hub Natural Gas futures spread market that resulted in imbalances at the top of the order book between January 16 and February 25, 2020.
The trader's actions caused significant volume to rest on one side of the market, leading to aggressive orders for execution. As a result, Logista Advisors received $32,710 in monetary benefits.