The CME Group has levied an $850,000 fine on a high-frequency trading firm for three computerized trading errors that disrupted futures trading, according to Securities Technology Monitor.
The exchange owner fined Infinium Capital Management for malfunctions Oct. 27 and 28, 2009, that led to “uncontrolled selling of S&P contracts on the Chicago Mercantile Exchange,” according to a report.
In the third incident, on Feb. 3, 2010, Infinium appeared to lose control of an algorithm that lost control of an algorithm that “bought oil futures in rapid succession on the New York Mercantile Exchange.”
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