10:55 AM EDT, 08/29/2024 (MT Newswires) -- Nasdaq's (NDAQ) Nasdaq Futures has been ordered by the Commodity Futures Trading Commission, or CFTC, to pay a $22 million fine, the regulator said Thursday.

The order alleges that the Nasdaq unit "failed to properly establish, monitor, or enforce rules related to an incentive program Nasdaq Futures offered to certain traders" on its designated contract market, the commission said.

The company also failed to fully share details about its incentive program with the CFTC or the public as required by law and made false and misleading statements to the CFTC about the program, the commission added.

Nasdaq Futures conduct "represents significant violations of both its duty to provide such information and several statutory Core Principles applicable to CFTC-designated exchanges," CFTC enforcement director Ian McGinley said.

Nasdaq did not immediately reply to MT Newswires' request for comment.

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