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Software Bug Causes CME Data Leak

A software bug at CME Group’s swaps data repository (SDR) allowed some traders to see confidential details regarding hundreds of transactions at the beginning of the month.

During a software upgrade to the exchange’s SDR, a glitch allowed some traders to see details on both sides of the trade of around 500 transactions in agriculture and energy swaps.

The issue was reported the next day by a number of customers and was rectified by the following morning. In a statement from CME, a spokesperson says, “On Monday, April 1, 2013, CME implemented an enhancement to its SDR swap reporting service.   The enhancement contained a bug that permitted a small number of market participants, who were entitled to make inquiries of the system, to view commodity swap trades of other market participants. 

“Approximately, 500 transactions in agriculture and energy swaps, out of a total of nearly a million, were mistakenly disclosed,” CME says in a statement. “Our customers alerted us to the issue on Tuesday and the bug was corrected by Wednesday morning. All impacted customers were notified. At CME Group, we regret this incident occurred as maintaining the confidentiality of market participant data at all times is vital to the operation of our markets and systems.”

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