• NOTICE OF DISCIPLINARY ACTION

      • #
      • 12-CH-1202
      • Effective Date
      • 01 May 2012
    • 12-CH-1202

      EXCHANGE DISCIPLINARY ACTION

      CLEARING MEMBER: State Street Global Markets, LLC

      CME RULE VIOLATIONS: 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;

      2. Submission of a Form 1-FR, FOCUS Report or other requested information within the specified period of time.

      FINDINGS: Pursuant to an offer of settlement in which State Street Global Markets, LLC neither admitted nor denied the violation, the Clearing House Risk Committee found that State Street Global Markets, LLC violated the above rule.

      PENALTY: In accordance with the settlement offer, the Committee imposed a $25,000 fine.

      EFFECTIVE DATE: May 1, 2012