Members of two CME Group exchanges agreed to pay fines to settle disciplinary actions charging disruptive trading. In one matter, Joseph Gibbons agreed to pay a fine of US $15,000 and not have access to any CME Group exchange for 20 business days for entering orders during pre-open periods that were purportedly not entered in good faith. According to the relevant business conduct committee, the entry and cancellation of Mr. Gibbons’s orders caused fluctuations in the displayed indicative opening price of the relevant futures contracts. In the other action, Brian Horvath agreed to pay a fine of US $15,000 and disgorge profits of US $13,275 for executing multiple user-defined spreads in order to avoid the allocation of futures contracts that should have been associated with the relevant covered options instrument. He achieved a profit equal to the amount he was required to disgorge as a result of his action.