Consistent with prior Notices, all market participants are reminded that misuse of trading at settlement (“TAS”) (including TAS block trades) or matched order (“MO”) trades to acquire a position in order to unfairly affect or attempt to unfairly affect a settlement price may subject the member and/or the market participant to disciplinary action for any of a number of rule violations, including, but not limited to:
· attempted price manipulation
· disruptive trading
· wash trading
· conduct substantially detrimental to the interests or welfare of the exchange
Any Market Regulation Department investigation of suspected manipulative pricing involving TAS or MO trades will include review of the percentage of such positions acquired by a member, group of members or market participants, and whether the offset of those positions during the close was disruptive, collusive, and/or caused or attempted to cause aberrant price movement during the close.
Questions regarding this Advisory Notice should be directed to the following individuals in Market Regulation:
Thomas LaSala, Managing Director and NYMEX Chief Regulatory Officer 212.299.2897
Anthony V. Densieski, Director, Market Surveillance 212.299.2881
Nancy Minett, Director, General Investigations 212.299.2940
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.