NOTICE OF SUMMARY ACTION

FILE NO.:              

DQA-18-9697 

MEMBER FIRM:

OLIVER N. OLINGER (ONO)

RULE VIOLATION:

SPECIAL EXECUTIVE REPORT 7611 (March 4, 2016) – (“UPDATED REQUIREMENTS FOR PROPER RECORDATION, ENDORSEMENT AND KEYPUNCHING OF CME BROKERAGE REASSIGNMENT (“BK”) TRADES”).

The BK process must be used by all IMM and IOM members who execute an options/futures spread trade via open outcry in an options pit where the futures leg of the spread is a product outside of the IMM or IOM member’s division. 

FINDINGS:

On multiple occasions during June 2018, Oliver N. Olinger failed to denote the acronym of the higher division member to be credited with the brokerage applicable to the execution of the futures leg of the spread in violation of the requirements of Special Executive Report S-7611.

PENALTY:

On July 11, 2018, Oliver N. Olinger, pursuant to Rule 512 (“Reporting Infractions”), was issued a $1,000 fine by the 512 Committee for his violations of Special Executive Report S-7611.

EFFECTIVE DATE:

July 27, 2018