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Bunge settles CFTC charges
01 April 2011
The US Commodity Futures Trading Commission has settled charges of $550,000 as a civil monetary penalty against New York’s Bunge Global Markets.
The regulator charges that Bunge entered orders to buy or sell soybean futures contracts in pre-opening trading sessions on Globex, CME Group’s electronic trading platform.
The watchdog said the incident caused false prices to be reported and also constituted knowingly inexact reports concerning soybean market information that affected its price. The CFTC order requires Bunge to desist from future violations.