CME Group Inc on Friday fined a unit owned byJPMorgan Chase & Co $210,000 and an affiliate of Credit Suisse $175,000 for various trading violations.
It was the second time in just over two months that CME Group, the world's largest futures exchange operator, fined Credit Suisse for problems with its automated trading systems in 2012.
Credit Suisse and JPMorgan declined to comment.
CME Group fined Credit Suisse Securities after an automated trading system malfunctioned in December 2012, causing an excessive number of electronic orders and cancel messages to be entered in the Two-Year Treasury market. The unit of Switzerland's second-largest bank learned of the problem immediately but allowed the trading system, known as an ATS, to operate for 90 minutes while trying to fix it, according to a disciplinary notice.
"Credit Suisse ultimately deactivated the ATS only after the exchange contacted the firm regarding the messaging activity," the notice said.
In November, CME Group said Credit Suisse in January 2012 had failed to have adequate controls to prevent erroneous third-party data from impacting an automated trading system, and fined the firm $150,000.
CME Group fined JPMorgan Securities [JPMBSB.UL] for multiple violations in futures markets ranging from cattle and corn to foreign exchange.
JPMorgan Securities violated rules for reporting open interest and block trades, or privately negotiated transactions executed apart from public auction markets, to CME from 2010 to 2013, according to disciplinary notices.
