Thursday, 2 July 2015
Last updated 17 hours ago
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.
May 27 2015 | 2:15pm ET
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