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CFTC fines D.E. Shaw for over speculation

Thursday, February 23, 2012

Bailey McCann, Opalesque New York: The Commodities Futures Trading Commission (CFTC) announced yesterday the filing and simultaneous settlement of charges against D.E. Shaw & Co. L.P., a New York-based commodity pool operator, for having speculative positions in soybeans and corn futures contracts that exceeded allowable limits. D.E. Shaw was fined $140,000.

According to a statement from the CFTC, D.E. Shaw held a short position of 9,894 May 2010 soybean futures contracts – a position that exceeded by 3,394 contracts the single month speculative limit of 6,50......................

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