• NOTICE OF DISCIPLINARY ACTION

      • #
      • NYMEX 16-0498-BC
      • Effective Date
      • 16 June 2017
    • NON-MEMBER:

      ASPIRE COMMODITIES LP

      NYMEX RULE VIOLATION: 562. POSITION LIMIT VIOLATIONS

      Any positions in excess of those permitted under the rules of the Exchange shall be deemed position limit violations.

      FINDINGS:

      Pursuant to an offer of settlement Aspire Commodities LP (“Aspire”) presented at a hearing on June 14, 2017, in which Aspire neither admitted nor denied the factual allegations or the NYMEX rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“BCC”) found that, on trade date July 27, 2016, Aspire held a futures equivalent long position of 1,159.25 contracts in August 2016 Henry Hub Natural Gas Look-Alike Last Day Financial Futures (“AUG16 HH”), which was 159.25 contracts, or 15.925%, over the standard expiration month limit, which went into effect at the close of business on July 22,2016 and remained in effect through July 27, 2016.

      The Panel found that as a result, Aspire violated Rule 562.

      PENALTY:

      In accordance with the settlement offer, the Panel ordered Aspire to pay a fine to the Exchange in the amount of $50,000.