Page 34 - 期货和衍生品行业监管动态（2022年9月）
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期货和衍生品行业监管动态
bona fide position in the market, but rather to liquidate and re-establish a position
while minimizing risk and price competition.
The order also finds COFCO liable for speculative position limit violations while
trading ICE Cotton No. 2 futures contracts. According to the order, in March 2020,
various aggregated subsidiaries of COFCO held net short positions in excess of the
5,000-contract single- and all-month position limits then applicable. Similarly, in
November 2021, several subsidiaries of COFCO held net short positions in excess of
the 5,950-contract single-month position limit then applicable. The subsidiaries also
failed to file certain required reports accurately reflecting their cash-market exposure.
Parallel Exchange Action
In a separate action, on July 20, ICE Futures U.S. settled a disciplinary action
against Chinatex and an affiliate for trade practice violations, conduct detrimental to
the exchange, unauthorized use of trader identification information, position limit
violations, misuse of a hedge exemption, and failure to supervise.
https://www.cftc.gov/PressRoom/PressReleases/8592-22
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