Chicago trading company suspends Chicago trading after reports of abuse
The Chicago Trading Company is suspending trading of its stock on the Chicago Board Options Exchange after a whistleblower posted videos of its employees abusing workers.
The company said in a statement Wednesday that it’s working with federal law enforcement to determine the facts surrounding the alleged abuse and that the company will provide additional details when appropriate.
“Chicago Trading Company has taken immediate action to investigate allegations of inappropriate behavior in our company,” the company said.
“We are committed to working collaboratively with our employees and others to ensure a safe and positive workplace for all of our associates and our customers.”
The company’s chief executive officer, David Schoen, said in an emailed statement that the actions taken were “based on the facts, circumstances, and actions of our employees.
The actions we have taken have been consistent with the Code of Conduct for our employees, which prohibits conduct that would cause undue stress to a colleague, a client, or our community.
We will work with federal authorities and others, including the Office of the Inspector General of the Department of Justice, to address the allegations and to hold accountable those responsible.”
The Chicago Trading Corporation has suspended trading of the company’s stock on CME.com and its affiliates in the Chicago Stock Exchange since mid-July.
The suspension will affect all employees and all CME participants, the company wrote in a post on its website Wednesday.
The company said it was also conducting a review of its internal procedures to ensure that any allegations of misconduct or harassment were appropriately investigated.CME is the world’s largest futures and options exchange, and is operated by CME Group, Inc. The trading platform’s headquarters are in Chicago.CAMERA, a trade show, is scheduled to begin Aug. 2.