CME Group Fines Tanius Technology $150,000 Over Treasury Futures Trading Practices

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CME Group has imposed a $150,000 fine on proprietary trading firm Tanius Technology, LLC following findings related to its trading activity in U.S. Treasury futures markets.

According to the exchange, a panel of the Chicago Board of Trade (CBOT) Business Conduct Committee determined on January 14, 2026, that Tanius engaged in certain trading practices between January 2020 and December 2022 that violated CBOT rules. The decision followed an offer of settlement in which Tanius neither admitted nor denied the alleged violations or the underlying factual findings.

The panel found that Tanius employed a strategy in markets using a pro-rata matching algorithm, placing multiple maximum-quantity orders to increase the likelihood of receiving a larger share of passive order fills. During Treasury futures roll periods, the firm at times maintained a significant number of such orders at the best price levels in the 2-Year, 5-Year, and 10-Year Treasury spread order books.

CME Group noted that, although unlikely, the immediate execution of these orders on one side of the market could have required margin payments that would have exceeded the firm's net liquidation value at the time if such payments had been called. As a result, the panel concluded that Tanius received a disproportionate number of fills relative to its ability to immediately execute against its resting orders, potentially affecting other passive market participants.

Based on these findings, the CBOT panel concluded that Tanius violated CBOT Rules 432.B.2 and 432.Q. In line with the settlement agreement, the firm was ordered to pay a $150,000 fine.

CME Group did not announce any additional sanctions or remedial actions in connection with the case.