Page 33 - 期货和衍生品行业监管动态（2022年9月）

期货和衍生品行业监管动态

过了当时适用的单一合约月份限额5000手的规定。同样，在2021年11月，COFCO

的多家子公司持有的净空头头寸超过了当时适用的单一合约月份限额 5,950 手的

规定。这些子公司也未按规定提交准确反映其现货市场风险敞口的报告。

平行的交易所处分

在另一项单独行动中，7 月 20 日，美国洲际交易所（ICE Futures U.S.）已

就 Chinatex 及其附属公司违反交易惯例、损害交易所、未经授权使用交易员身份

信息、违反持仓限额、滥用对冲豁免以及监督不力的行为实施纪律处分并达成和

解。

11. CFTC Orders Two Chinese Companies to Pay $720,000 for Wash Trading,

Position Limit Violations, and Reporting Failures (2022/9/23)

The Commodity Futures Trading Commission today issued an order

simultaneously filing and settling charges against Beijing-based COFCO Corp. and
Chinatex Corp., Ltd., for wash trading, position limit violations, and reporting

failures.

The order requires that COFCO and Chinatex pay a $720,000 civil monetary

penalty, for which they are jointly and severally liable, and cease and desist from

violating the Commodity Exchange Act (CEA) and CFTC regulations, as charged.

Case Background

The order finds that between April 22 and May 1, 2020, Chinatex traders

engaged in wash trading in order to liquidate a long position in the account of an

affiliated company and re-establish the position in its own account, to the ultimate

benefit of its parent company, COFCO. The traders accomplished this by entering

purchase orders for ICE Cotton No. 2 futures in Chinatex’s account, while at the same

time entering offsetting sale orders in the account of an affiliate. The offsetting orders
were for the same delivery month, and at prices that were typically within one price

tick of each other. The traders structured the orders to ensure that one set of offsetting

orders were filled before entering the next set. The orders were not intended to take a

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