• NOTICE OF DISCIPLINARY ACTION

      • #
      • CME-17-0770-BC
      • Effective Date
      • 26 October 2018
    • FILE NO.:

      CME 17-0770-BC

      MEMBER:

      Jacek Jarosz

      CME RULE VIOLATION:

      Rule 575. A. Disruptive Practices Prohibited (in part)

      A.No person shall enter or cause to be entered an order with the intent, atthe time of order entry, to cancel the order before execution or tomodify the order to avoid execution;

      FINDINGS:

      Pursuant to an offer of settlement in which Jacek Jarosz neither admitted nor denied the rule violation upon which the penalty is based, on October 24, 2018, a Panel of the Chicago Mercantile Exchange Business Conduct Committee (“BCC” or “Panel”) found that on several occasions between June 14, 2017, and August 4, 2017, Jarosz entered and canceled larger orders in the September 2017 E-mini NASDAQ 100 Futures (“NASDAQ”) without the intent to trade. Specifically, Jarosz entered smaller orders that rested on one side of the order book and subsequently entered larger orders on the opposite side of the market. After receiving fills on his smaller orders, Jarosz cancelled the large orders he had previously entered on the opposite side of the order book. The Panel concluded that Jarosz thereby violated CME Rule 575.A.

      PENALTY:

      In accordance with the settlement offer, the Panel ordered Jarosz to pay a fine in the amount of $25,000. The Panel also suspended Jarosz from access to any CME Group trading floor and direct and indirect access to all electronic trading and clearing platforms owned or operated by CME Group for 15 business days, beginning on the effective date below and continuing through and including November 15, 2018.

      EFFECTIVE DATE:

      October 26, 2018