CFTC v. Eagle Market Makers, Inc. (wash trading, 2019)
Judgment entered
Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In June 2019, the CFTC settled charges against Illinois trading firm Eagle Market Makers, Inc., ordering a US$350,000 penalty and improved controls for wash sales and noncompetitive trades in CBOT and CME futures.
The record
| Agency | CFTC |
|---|---|
| Release number | 7952-19 |
| Date filed | 2019-06-28 |
| Date resolved | 2019-06-28 |
| Status | judgment |
| Asset class | futures |
| Venue | CBOT, CME |
| Criminal parallel | No |
| Defendants | Eagle Market Makers, Inc. |
| Techniques | Wash trading |
What was ordered
- Civil penalty
- $350k
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- $350k
- Alleged gain
- —
What is alleged to have happened
The Commodity Futures Trading Commission announced this matter on June 28, 2019 as release 7952-19. The respondents named are Eagle Market Makers, Inc. (0 individuals, 1 entity).
The order finds that from about February 2015 to February 2019 traders at Eagle entered bids and offers of similar size in the same futures contract for the firm's proprietary accounts, intended to and in fact offsetting each other, in corn, soybeans, soybean oil, soybean meal, wheat and Eurodollar futures.
This library tags the matter as wash trading, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.
A $350,000 civil monetary penalty, a cease-and-desist order, and undertakings to improve internal controls.
Eagle consented to the order.
What technique is this, and how does it work?
This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.
- Wash trading — see how it works, what statute it engages, and every other action tagged the same way.
Timeline
- 2019-06-28 CFTC release published
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.
Related actions
Other actions in the library sharing at least one technique tag with this one.