• Amended Notice of Summary Access Denial Action

      • #
      • NYMEX 16-0600
      • Effective Date
      • 09 February 2017
    • MEMBER:

      ELDORADO TRADING GROUP LLC

      NYMEX RULE: 413. SUMMARY ACCESS DENIAL ACTIONS (in part)

      413.A. Authority to Deny Access

      The Chief Regulatory Officer or his delegate, upon a good faith determination that there are substantial reasons to believe that such immediate action is necessary to protect the best interests of the Exchange, may order that: 1) any party be denied access to any or all CME Group markets; 2) any party be denied access to the Globex platform; 3) any party be denied access to any other electronic trading or clearing platform owned or controlled by CME Group; or (4) any Member be immediately removed from any trading floor owned or controlled by CME Group.

      FINDINGS:

      On January 5, 2017, CME Group’s Market Regulation Department (“Market Regulation”), through its Chief Regulatory Officer, upon a good faith determination that there were substantial reasons to believe that such immediate action was necessary to protect the best interests of the Exchange, summarily denied Eldorado Trading Group LLC (“Eldorado”) direct and indirect access to the CME Globex electronic trading platform (“Globex”) for purposes of trading or entering Trading at Settlement (“TAS”) orders in any product. The summary access denial prohibited Eldorado, or anyone on behalf of Eldorado, from trading TAS, placing TAS orders, and controlling or directing TAS trading for any person, entity, or account in any CME Group exchange product. Since January 5, 2017, Eldorado has demonstrated to Market Regulation changes to their TAS order entry and messaging practices. Upon further consideration of the circumstances that resulted in the prior access denial action, the Chief Regulatory Officer believes that Eldorado has alleviated the need to continue the summary access denial.

      ACCESS DENIAL:

      Pursuant to Rule 413, the Chief Regulatory Officer hereby amends this access denial to reflect an end to the access denial effective immediately.