The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against commodity pool operator D E Shaw & Co of New York, for exceeding speculative position limits in soybean and corn futures contracts in trading on the Chicago Mercantile Exchange.

The order requires DE Shaw to pay a USD140,000 civil monetary penalty and cease and desist from further violations of section 4a(b) of the Commodity Exchange Act and CFTC regulation 150.2.

The CFTC order finds that on 1 April, 2010, DE 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 6,500 for soybean futures. On 18 June, 2010, DE Shaw held a short position of 13,657 December 2010 corn futures contracts – a position that exceeded by 157 contracts the 13,500 contract single month speculative position limit for corn futures, according to the order.