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CME Test Orders Were ‘Inadvertently’ Made in Markets

CME Group Inc., the world’s largest futures market, said it will treat inadvertently placed energy and metals trades yesterday as ‘phantom orders,’ though none of the transactions were canceled.

Over a six-minute period, test orders were “inadvertently” placed on the Globex electronic trading system into active energy and metals markets, the Chicago-based company said today in a statement. CME owns the New York Mercantile Exchange, where crude oil, natural gas, heating oil, gasoline, platinum and palladium trade, and the Commodity Exchange in New York, where gold, silver and copper change hands.