• NOTICE OF DISCIPLINARY ACTION

      • #
      • 15-CH-1503
      • Effective Date
      • 02 October 2015
    • CHICAGO MERCANTILE EXCHANGE

      NOTICE OF DISCIPLINARY ACTION

      FILE NO.: 15-CH-1503

      MEMBER FIRM: Advantage Futures LLC

      CME RULE: 970.  FINANCIAL REQUIREMENTS

      A. Subject to exemptions granted by Exchange staff, all clearing members, including non- FCMs, must comply with the requirements set forth in CFTC Regulations 1.10, 1.12, 1.17 and 1.18. This includes, but is not limited to, the following:

      1. Maintenance of minimum capital requirements of at least $5 million except that a clearing member that is a bank must maintain minimum Tier I Capital (as defined in accordance with regulation applicable to the relevant bank) of at least $5 billion.

      FINDINGS: Pursuant to an offer of settlement in which Advantage Futures LLC neither admitted nor denied the rule violations upon which the penalty is based, on October 1, 2015, the Clearing House Risk Committee found that Advantage Futures LLC violated CME Rule 970.A.1.

      PENALTY: In accordance with the settlement offer, the Clearing House Risk Committee fined Advantage Futures LLC $100,000.

      EFFECTIVE DATE: October 2, 2015