U.S. Markets

CME Group bans two traders for prearranging transactions

CHICAGO (Reuters) - CME Group Inc said on Tuesday it permanently barred from its markets two traders who prearranged trades to transfer equity between accounts two years ago.

The owner of the Chicago Mercantile Exchange banned Jun Jin for prearranging transactions in CME FX option instruments from May 2014 to July 2014, according to a disciplinary notice. Jin was also fined $50,000.

Diego Di Stefano was banned for prearranging trades in E-mini S&P futures from September 2014 to November 2014 and fined $75,000, another notice said.

Contact information for the traders could not immediately be found.

A CME panel found each guilty after they failed to answer the charges against them, according to the notices, which did not say whether the cases were related.

Reporting by Tom Polansek; Editing by Alan Crosby