Credit Suisse Securities (USA) LLC settled a disciplinary action brought by the CME Group for a January 30, 2012 incident where the firm’s automated trading system entered and executed an excessive quantity of futures transactions causing a “higher than usual volume in those contracts.” Prior to this incident, a third-party vendor had apparently included an incorrect stock price in an index. Credit Suisse’s automated trading system relied on this errant index to incorrectly calculate the number of futures contracts to be traded—thus prompting the extraordinary order generation. According to the CME Group, “Credit Suisse failed to have sufficient or adequate controls in place to prevent erroneous or incorrect third-party data from impacting the operation of its ATS.” CME Group charged Credit Suisse with violating its prohibition against committing “an act which is detrimental to the interest or welfare of the Exchange.” Credit Suisse agreed to pay a fine of US $150,000 to resolve this matter. Credit Suisse Securities previously paid a fine of US $25,000 to ICE Futures U.S. for ATS breakdowns on April 8, 2011, and January 31, 2012.