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Daiwa fine: The Business Conduct Committee of the Chicago Board of Trade (CBOT) has announced fines of $60,000 against Daiwa Bank for violation of the exchange's rules on futures-for-physicals transactions.
The CBOT found that Daiwa Bank had exchanged quantities of US Treasury bond futures for underlying securities that weren't equivalent to the futures position involved.
According to press reports and other sources, the CBOT fine stems from recently discovered aspects of the fraudulent bond
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