• NOTICE OF SUMMARY ACTION

      • #
      • CME-RSRH-17-4872
      • Effective Date
      • 26 January 2018
    • FILE NO.:

      CME-RSRH-17-4872

      MEMBER FIRM:

      Citigroup Global Markets Inc.

      CME RULE VIOLATION:

      526.F. BLOCK TRADES

      Unless otherwise agreed to by the principal counterparties to the block trade, the seller, or, in the case of a brokered transaction, the broker handling the block trade, must ensure that each block trade is reported to the Exchange within the time period and in the manner specified by the Exchange. The report must include the contract, contract month, price, quantity of the transaction, the respective clearing members, the time of execution, and, for options, strike price, put or call and expiration month. The Exchange shall promptly publish such information separately from the reports of transactions in the regular market.

      FINDINGS:

      On five occasions in September 2017, Citigroup Global Markets Inc. did not report block trades in a timely manner to the Exchange. The block trades were executed in the following products: December 2017 E-Mini® Russell 2000® Index Futures, September 2017 E-mini® S&P Real Estate Select Sector Index Futures, September 2017 S&P500 – Financial Sector Index, September 2017 S&P500 – Consumer Staples Sector Index and December 2017 Nikkei/Yen Futures.

      PENALTY:

      On December 18, 2017, the Rule 512 committee, pursuant to Rule 512, assessed a fine in the amount of $5,000 against Citigroup Global Markets Inc. for its violations of CME Rule 526.F.

      EFFECTIVE DATE:

      January 26, 2018