CME Group Inc (CME.O) fined a trader $50,000 for running a rapid-fire trading strategy that malfunctioned last year, sending thousands of erroneous orders to the New York Mercantile Exchange and sparking a $1 surge in oil prices. The trader, Neil Brookes, was live-testing a computer-based trading strategy for Chicago-based Infinium Capital Management on February 3, 2010, when an error in the computer file caused it to enter 6,767 one-lot orders for crude futures contracts in just three seconds. The error generated a million-dollar loss for Infinium, which earlier this year was fined a total of $850,000 for the 2010 ... (full story)