- Elephas Investment Management Ltd., a Hong Kong based hedge fund fined,
for violating wheat futures speculative position limit in the CBT in November 2017.
- Order found that on 29 November 2017, Elephas held a net long position in CBT
trade’s December 2017 soft red winter wheat futures contract, holding over 1,000.
- This was in excess of the spot month speculative position limit as set by CFTC.
- The investigation was conducted in conjunction with related inquiries by CME
Group (CME), which also announced a parallel disciplinary action on Elephas.
- The Order requires Elephas to pay a $160k civil monetary penalty to the CME.