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CME Suspends Hana Financial Investment for Providing Inaccurate Information
Trading Suspended for 60 Days
CME Suspends Hana Financial Investment for Providing Inaccurate Information
  • By Yoon Young-sil
  • May 24, 2018, 16:32
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The Chicago Mercantile Exchange, the world's largest derivatives exchange.

The Chicago Mercantile Exchange (CME) Group announced on May 24 that the 60 day-suspension of CME futures and options trading imposed on Korea's Hana Financial Investment (HFI) had nothing to do with the country's Personal Information Protection Law.

The CME Group said in a press release that Hana Financial Investment provided incomplete and inaccurate information on account ownership and transaction rights last year, hindering its investigation into transactions suspected of violating market regulations.

The CME also said HFI inaccurately offset customers’ positions and provided inaccurate information about positions to the clearing corporation, noting that information on HFI’s inappropriate behavior was contained in the Market Access (Transaction) Suspension Notice released on May 21 (local time).

A HFI official said on May 22, referring to the CME’s action against the company, "Under the domestic law, we need a customer’s consent to provide their personal information to the CME. It seems that the exchange took action against HFI as we did not give the information of customers who did not agree to provide it."

The press release of CME refutes this explanation from Hana Financial Investment.