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ARTICLE · 07 NOVEMBER 2019

NYMEX Issues Fines For Trade Practice Violations

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The New York Mercantile Exchange ("NYMEX") charged two traders for block trade submission violations and prearranged transactions, respectively.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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The New York Mercantile Exchange ("NYMEX") charged two traders for block trade submission violations and prearranged transactions, respectively.

The NYMEX BCC Panel imposed penalties on:

  • a company $70,000 for (i) reporting inaccurate execution times and (ii) failing to report block trades to NYMEX that were submitted in the Crude Oil and Natural Gas markets, in addition to supervisory failures; and
  • a trader $5,000 for prearranging the execution of round-turn transactions in Steel futures contracts, between a trading account established on behalf of his employer and a separate account.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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