CME Group fines, suspends institutional trader for engaging in disruptive practices

International derivatives marketplace CME Group has posted a notice of disciplinary action against Siu Lum Jade Wong, an institutional trader located in Hong Kong.

On March 9, 2026, the Chief Regulatory Officer of CME Group's Market Regulation Department charged Wong with violating COMEX Rules 575.A and 575.B, based on allegations that between July 30, 2024, and Jan. 3, 2025, she entered orders in DEC24 Gold, FEB25 Gold, DEC24 Copper, and DEC24 Silver futures markets with the intent to cancel or modify them before execution and to mislead other market participants.

Wong repeatedly layered large-quantity orders on one side of the market and smaller-quantity orders on the opposite side, canceling the large orders once the small ones traded, and also canceled large orders before receiving fills on small ones, gaining a monetary benefit of $17,397.

On June 16, 2026, a Hearing Panel Chair of the COMEX Business Conduct Committee determined that Wong, having failed to submit a written answer, was deemed to have admitted the charges and waived her right to a hearing.

The BCC Panel found Wong guilty and ordered her to pay a $120,000 fine, disgorge $17,397 in profits, and serve a five-year suspension from access to any trading floor, designated contract market, derivatives clearing organization, or swap execution facility owned or controlled by CME Group.

The suspension begins on the effective date of the decision and continues for five years from the date the fine and disgorgement are paid in full.

The effective date of the disciplinary notice is July 7, 2026.