HTG Capital Partners LLC
NYMEX RULE VIOLATION: RULE 524.A. TRADING AT SETTLEMENT (“TAS”) TRANSACTIONS (IN PART)
2. TAS orders may be entered on Globex at any time the applicable contracts are available for TAS trading on Globex and during each TAS contract’s prescribed pre-open time period. The initiation of any TAS order on Globex outside these time periods is prohibited.
Pursuant to an offer of settlement HTG Capital Partners LLC (“HTG”) presented at a hearing on November 1, 2016, in which HTG neither admitted nor denied the findings or rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“BCC”) found that it had jurisdiction over HTG pursuant to Exchange Rules 400 and 402 as HTG is a member of the Exchange, and that on July 9, 2015, an automated trading system (“ATS”) operated by HTG, entered five Trading at Settlement (TAS) orders prior to receiving the security status message stating that the product group had entered a pre-open state, in violation of NYMEX Rule 524.A. (Trading at Settlement (“TAS”).
The Panel found that, as a result, HTG violated NYMEX Rule 524.A. (Trading at Settlement (“TAS”).
In accordance with the settlement offer, the Panel ordered HTG to pay a fine to the Exchange in the amount of $15,000.
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