GATOR TRADING PARTNERS LLC
562. POSITION LIMIT VIOLATIONS
Any positions in excess of those permitted under the rules of the Exchange shall be deemed position limit violations.
Pursuant to an offer of settlement Gator Trading Partners LLC (“Gator”) presented at a hearing on April 23, 2013, in which Gator neither admitted nor denied the rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“BCC”) found that it had jurisdiction over Gator pursuant to NYMEX Rules 400 and 402 as the conduct occurred while Gator was a NYMEX member and that on trade date March 16, 2012, Gator maintained open APR12 Crude futures equivalent commitments of 3,438 long contracts, which was 438 contracts (14.6%) over the standard 3,000 lot expiration month position limit in effect for trade dates March 16, 19, and 20, 2012. Gator subsequently liquidated its overage position resulting in profits of $7,823.73.
The Panel found that as a result, Gator violated Rule 562.
In accordance with the settlement offer, the Panel ordered Gator to pay a fine to the Exchange in the amount of $17,500 and to disgorge profits in the amount of $7,823.73.
April 25, 2013
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