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[ETJ]

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12:22 PM (5 hours ago)

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Business Conduct Committee
Attached are the Chicago Board of Trade and Chicago Mercantile Exchange disciplinary postings for the following, which have an effective date of Friday, July 19, 2019

Peter James Douglass - 16-0391-BC. Read Full Notice

Phil Ferguson - CME 17-0827-BC. Read Full Notice

Larry C. Johnson - CME 18-0901-BC. Read Full Notice

David Brian Thompson - CBOT 18-0977-BC. Read Full Notice

SG Americas Securities, LLC - CBOT 15-0115-BC-3. Read Full Notice

 

[Ayn Rand]

God Bless David Brian Thompson. The Dude likes to trade. Do not understand why if he brought his position into compliance and did not profit that he was still fined $23,000.

 

[Overnight]

God Bless David Brian Thompson. The Dude likes to trade. Do not understand why if he brought his position into compliance and did not profit that he was still fined $23,000.

He broke the rule. Did you not read the thing?

...found that at the close of trading on trade date June 26, 2018, Thompson held an aggregate net futures equivalent long position of 9,768 September 2018 Soybean Oil, October 2018 Soybean Oil, and December 2018 Soybean Oil contracts, which exceeded the single and all-months position limit by 1,768 contracts, or 22.10%. On the following trade date, June 27, 2018, Thompson increased his September 2018 Soybean Oil, October 2018 Soybean Oil, and December 2018 Soybean Oil futures position to 10,268 contracts, or 28.35% over the single and all-months position limit.

What is so hard to understand about this? He exceeded the limits, and he got fined. That he realized he was in excess the next day does not mean he gets a pass on the previous day's fubar.

Why are you protecting this asshole? He KNOWS what the limits are. He should never have gone into violation in the first place. That he did means he let his shit run wild and didn't GAF. Well, F him. I wish he has a permanent ban. I CANNOT abide these jerks who just flaunt the rules. CME, the guy deserves a perma ban if it is his second violation. F HIM!

(A couple years ago, there was someone on here who taunted me about there being limits on how many futures contracts you can trade in a month, when I mentioned it. It was on the ES. I hope that person is looking at this and taking note. Whomever you were, yeah, there are LIMITS, dude! 60,000 on ES across all months IIRC.)