Page 17 - 期货和衍生品行业监管动态（2023年11月刊）

期货和衍生品行业监管动态

该行政令还认定Ceres在2017年3月的燕麦期货合约上从事了类似的活动，

同样企图影响期货价格。Ceres 建立了 2017 年 3 月燕麦期货合约的多头头寸，一

直持有该头寸并交割了 337 份合约，还进行了另外 224 份合约的平仓交易，尽管

其自身并不急需这些燕麦。

CFTC Orders Minnesota Grain Merchandiser to Pay $3 Million Penalty for

Attempted Manipulation of Oats Futures Prices (2023/10/23)

The Commodity Futures Trading Commission today issued an order

simultaneously filing and settling charges against Ceres Global Ag Corp., a company

based in Golden Valley, Minnesota, for attempting to manipulate the price of the July

2016 and March 2017 oats futures contracts.

According to the order, senior personnel at Ceres knew about and facilitated the

building of large long positions at or close to the spot month speculative limits, holding

those long positions into the delivery period, and taking delivery of oats, intending both
to boost the price of oat futures in those contracts and to obtain higher quality oats at

lower delivery prices.

The order requires Ceres to pay a $3 million civil monetary penalty and to cease

and desist from further violations of the Commodity Exchange Act (CEA), as charged.

The order also recognizes Ceres has undertaken significant remedial steps to ensure

future compliance with the CEA.

“If Ceres thought it could roll the oats market without consequence, it was

mistaken,” said Director of Enforcement Ian McGinley. “The CFTC will act decisively

to protect all its agricultural markets, as well as the producers, market participants, and

consumers who rely on them.”

Case Background

The order states Ceres attempted to manipulate the July 2016 and March 2017 oats

futures contracts. In June 2016, a former officer directed the company’s oat traders to

2