• NOTICE OF DISCIPLINARY ACTION

      • #
      • 14-CH-1406
      • Effective Date
      • 27 August 2014
    • CHICAGO BOARD OF TRADE 

      NOTICE OF DISCIPLINARY ACTION

      FILE NO.: 14-CH-1406

      MEMBER FIRM: Eagle Market Makers, Inc.

      CBOT 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.

      4. Completely and accurately computing and recording the balances in the net capital computation including capital requirements;                                                                            

      FINDINGS: Pursuant to an offer of settlement in which Eagle Market Makers, Inc. neither admitted nor denied the rule violations upon which the penalty is based, on August 26, 2014, the Clearing House Risk Committee found that Eagle Market Makers, Inc. violated CBOT Rules 970.A.1. and 970.A.4.

      PENALTY: In accordance with the settlement offer, the Committee fined Eagle Market Makers, Inc. $25,000.

      EFFECTIVE DATE: August 27, 2014