NYMEX RULE VIOLATION:
RULE 524.A. TRADING AT SETTLEMENT (“TAS”) TRANSACTIONS (IN PART)
2. TAS orders may be entered on Globex at any time the applicable contracts are available for TAS trading on Globex and during each TAS contract’s prescribed pre-open time period. The initiation of any TAS order on Globex outside these time periods is prohibited.
Pursuant to an offer of settlement Louis Yoon (“Yoon”) presented at a hearing on September 30, 2015, in which Yoon 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 Yoon pursuant to Exchange Rules 400 and 402, and during the time period of March 2015, Yoon entered three Trading at Settlement (TAS) orders prior to the security status message stating that the product group had entered a pre-open state, in violation of NYMEX Rule 524.A. (Trading at Settlement (“TAS”).
The Panel found that, as a result, Yoon violated NYMEX Rule 524.A. (Trading at Settlement (“TAS”)).
In accordance with the settlement offer, the Panel ordered Louis Yoon to pay a fine to the Exchange in the amount of $15,000.
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