NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CBOT 17-0837-BC

MEMBER:

Vitol Inc.

CBOT 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.

FINDINGS:

Pursuant to an offer of settlement in which Vitol Inc. (“Vitol”) neither admitted nor denied the rule violation upon which the penalty is based, on August 8, 2018, a Panel of the Chicago Board of Trade (“CBOT”) Business Conduct Committee (“BCC” or “Panel”) found that on December 5, 2017, Vitol held a futures equivalent position of 1,007 long December 2017 Soybean Oil futures contracts, which was 467 contracts (86.48%) over the spot month position limit in effect. Within minutes of identifying the overage, Vitol liquidated its overage position to bring itself into compliance and did not profit from doing so. The Panel found that as a result, Vitol violated CBOT Rule 562.

PENALTY:

In accordance with the settlement offer, the Panel ordered Vitol to pay a fine of $50,000.

EFFECTIVE DATE:

August 10, 2018