CME Group has posted a notice of summary action as to Marex Spectron International Limited.
On three occasions in September 2021, Marex Spectron International Limited did not report block trades in a timely manner to the Exchange. These block trades were executed in October 2021 RBOB Gasoline Futures.
Pursuant to Rule 512, a fine in the amount of $3,000 was assessed against Marex Spectron International Limited for its violations of NYMEX Rule 526, and NYMEX Rule 526.F.
NYMEX rules:
- 526.F. BLOCK TRADES
Unless otherwise agreed to by the principal counterparties to the block trade, the seller, or, in the case of a brokered transaction, the broker handling the block trade, must ensure that each block trade is reported to the Exchange within the time period and in the manner specified by the Exchange. The report must include the contract, contract month, price, quantity of the transaction, the respective clearing members, the time of execution, and, for options, strike price, put or call and expiration month. The Exchange shall promptly publish such information separately from the reports of transactions in the regular market.