CME fines Ont. Teachers for hog trades

Chicago | Reuters — The Ontario Teachers’ Pension Plan Board, which manages investments for Canada’s largest single-profession pension plan, violated speculative position limits in CME Group’s lean hog futures market, the exchange operator said Friday.

Chicago-based CME fined the board $15,000 and ordered it give up nearly $18,000 in profits for exceeding position limits on two dates in March 2013, according to a disciplinary notice (all figures US$).

Andrew Kondraski, senior manager of investment communications for Ontario Teachers, said he had no details about the circumstances of the violations.

“We’ve reviewed our processes to preclude any future occurrences,” he added.

The pension plan had assets worth almost $141 billion as of Dec. 31.

— Reporting for Reuters by Tom Polansek in Chicago.

About the author

Glacier FarmMedia Feed

GFM Network News

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

Comments

explore

Stories from our other publications