• NOTICE OF DISCIPLINARY ACTION

      • #
      • NYMEX 17-0652-BC
      • Effective Date
      • 01 September 2017
    • NON-MEMBER:

      ETTORRI CAPITAL LLC

      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 Ettorri Capital LLC (“Ettorri”) presented at a hearing on August 30, 2017, in which Ettorri neither admitted nor denied the rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“BCC”) found that, at the close of business on February 21, 2017, Ettorri held a futures equivalent short position of 1,939 contracts in March 2017 Henry Hub Natural Gas Futures (“MAR17 NG”), which was 939 contracts, or 93.9%, over the standard expiration month limit, which went into effect at the close of business on February 21, 2017 and remained in effect through February 24, 2017.

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

      PENALTY:

      In accordance with the settlement offer, the Panel ordered Ettorri to pay a fine to the Exchange in the amount of $32,500.