Tuesday, 29 July 2014
Last updated 18 hours ago
Feb 24 2012 | 4:34am ET
D.E. Shaw Group has been hit with a small fine for violating position limits in corn and soy bean futures.
The hedge fund settled the allegations leveled by the Commodity Futures Trading Commission, the regulator said. D.E. Shaw will pay $140,000 for the violations, which occurred in April and June of 2010.
New York-based D.E. Shaw, which manages $23 billion, did not admit or deny any wrongdoing.
According to the CFTC, in April 2010 the hedge fund held a short position that exceeded by more than 50% the monthly trading limit on soy bean contracts. Two months later, it exceeded trading limits on corn by a much more modest margin.
The CFTC acknowledged that D.E. Shaw "unintentionally" exceeded the limits and moved the following day to reduce its position size.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…