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ADM INVESTOR SERVICES, INC. v. COLLINS

No. 06-4412.

515 F.3d 753 (2008)

ADM INVESTOR SERVICES, INC., Plaintiff-Appellee, v. Mark W. COLLINS, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided February 7, 2008.

Attorney(s) appearing for the Case

Thomas M. Knepper (argued), Knepper & Gladney, Chicago, IL, for Plaintiff-Appellee.

Craig E. Collins (argued), Topeka, KS, for Defendant-Appellant.

Before EASTERBROOK, Chief Judge, and BAUER and KANNE, Circuit Judges.

EASTERBROOK, Chief Judge.

Mark Collins traded futures contracts on the Chicago Board of Trade through ADM Investor. Services, a futures commission merchant (the equivalent of a stockbroker for derivatives). Over the course of 18 months, Collins made almost $1 million. His last trade, on July 27, 2004, was in soybean contracts. Collins purchased 40 contracts for delivery in August 2004 while selling 40 contracts for delivery in November. Matched pairs of long and short...

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