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Merchants Trading Co., a Chicago Board of Trade member firm, agreed to pay a $7,500 fine to settle exchange charges that it had failed to keep proper records, improperly reduced margins and violated other exchange rules. Shearson Lehman Brothers Inc., another member firm, was fined $10,000 for failing to forward customer account data to the exchange investigations unit, failing to properly time-stamp customer order forms and violating other rules.
