AQR CAPITAL MANAGEMENT, 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.
Pursuant to an offer of settlement AQR Capital Management, LLC (“AQR”) presented at a hearing on March 27, 2013, in which AQR neither admitted nor denied the rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“BCC”) found that AQR was subject to the jurisdiction of the BCC pursuant to NYMEX Rule 418 and that at the close of business on trade date January 15, 2013, AQR held a long position of 4,626 February 2013 Crude Financial (WS) Futures contracts, which was 2,626 contracts (131.30%) over the 2,000 lot expiration month position limit in effect for trade dates January 16, 17 and 18, 2013.
The Panel found that as a result, AQR violated Rule 562.
In accordance with the settlement offer, the Panel ordered AQR to pay a fine to the Exchange in the amount of $60,000.
April 1, 2013
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