Hedge Fund Goldfinch Hit By NYMEX For Natural Gas Shorting

Mar 16 2011 | 12:45pm ET

The New York Mercantile Exchange has rapped hedge fund Goldfinch Capital Management for exceeding position limits in natural gas futures.

The Houston-based energy hedge fund was ordered to pay a $50,000 fine and $17,287 in profits earned on the excess U.S. contracts, NYMEX's owner, the CME Group, said yesterday. According to NYMEX, Goldfinch's short position was "53 contracts (5.3%) over the expiring speculative spot month position limit."

The violation occurred on Nov. 23 for the December 2010 contract, and is Goldfinch's third such infraction over the past to years. The hedge fund later bought enough contracts to cut its position back under the 1,000 contract limit.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR