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Friday, December 19, 2014

CME Group fines three firms for automated trading violations, (NASDAQ: CME)

CME Group Inc on Friday fined three Chicago-based proprietary trading firms for violations stemming from problems with automated trading systems. The firms, 303 Proprietary Trading, Allston Trading and Traditum Group, had no immediate comment or declined to comment.CME Group ordered 303 Proprietary Trading to pay $75,000 after an algorithmic trading group employed by the firm sent more than 27,000 messages in less than two seconds on the exchange operator's electronic trading platform, known as Globex, according to a disciplinary notice.The flood of messages in May 2013 caused the cancellation of about 2,000 orders and "resulted in the exchange initiating a port closure and a failure of a Globex gateway," the notice said.CME Group, the world's largest futures market operator, fined Allston and Traditum $35,000 each.

CME Group Inc. (CME Group) offer a range of global products across all asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. Shares of CME fell by 0.16% or $-0.15/share to $92.13. In the past year, the shares have traded as low as $66.44 and as high as $92.30. On average, 1632970 shares of CME exchange hands on a given day and today's volume is recorded at 1280028.