NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CME 15-0161-BC

NON-MEMBER:

Yumin Li

CME RULE VIOLATIONS:

Rule 432. General Offenses (in part)

It shall be an offense:

G. to prearrange the execution of transactions in Exchange products for the purpose of transferring equity between accounts.

FINDINGS:

Pursuant to an offer of settlement in which Yumin Li neither admitted nor denied the rule violations upon which the penalty is based, on December 19, 2017, a Panel of the Chicago Mercantile Exchange Business Conduct Committee (“Panel”) found that between March 17, 2015, and May 6, 2015, Li executed multiple round-turn transactions in back-month Eurodollar futures spread markets on the CME Globex platform between an account she traded for her employer (“employer account”) and a non-member account over which she had trading discretion and control. As a result of these round-turn transactions, the non-member account profited while the employer account suffered a corresponding loss. The Panel found that Li thereby violated CME Rule 432.G.

PENALTY:

In accordance with the settlement offer, and after considering that Li was previously ordered to pay restitution to the employer account, the Panel ordered Li to serve a six-year suspension from: (1) access to any CME Group Inc. trading floor; (2) access to all electronic trading and clearing platforms owned or controlled by CME Group Inc., including Globex; (3) having a business affiliation with, be employed by, or have a financial or beneficial interest in a Member or broker association; and (4) any or all other privileges of membership as defined in Rule 121. The suspension shall run from December 21, 2017, through December 21, 2023, Inclusive.

EFFECTIVE DATE:

December 21, 2017