Exchange Operator CME Group Admits Error

CHICAGO (AP) -- CME Group (NASDAQ: CME  ) , which owns and operates options and futures exchanges in New York and Chicago, on Friday acknowledged an error in a report about wheat deliveries a day earlier and said it will cover traders' losses.

CME said it issued a report late Thursday showing 164 wheat shipment certificates, when there were actually 2,000 not included in that count. It corrected the error on its website within two hours.

Fewer shipping certificates indicated lower demand for wheat, which led some traders to sell.

CME said it will assume responsibility for losses associated with the reporting error. It plans to establish a claims process for customers and post that information on its website. 


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