NOTICE OF SUMMARY ACTION

FILE NO.:

RSRH-18-5232

MEMBER FIRM:

ICAP Securities Limited

RULE VIOLATION:

526.F. BLOCK TRADES

Unless otherwise agreed to by the principal counterparties to the block trade, the seller, or, in the case of a brokered transaction, the broker handling the block trade, must ensure that each block trade is reported to the Exchange within the time period and in the manner specified by the Exchange. The report must include the contract, contract month, price, quantity of the transaction, the respective clearing members, the time of execution, and, for options, strike price, put or call and expiration month. The Exchange shall promptly publish such information separately from the reports of transactions in the regular market.

MRAN RA-1811-5 (in part)

Market participants must accurately report the execution time of the block trade.

FINDINGS:

On two occasions in August 2018, ICAP Securities Limited did not report a block trade in a timely manner to the Exchange, on five occasions in August 2018, ICAP Securities did not report a block trade with an accurate execution time to the Exchange, and on two occasions in August 2018, ICAP Securities Limited did not report a block trade in a timely manner or with an accurate execution time to the Exchange. These block trades were executed in December 2018 and February 2019 Gold Futures and December 2018 and February 2019 Gold Options.

PENALTY:

On October 30, 2018, the Rule 512 committee, pursuant to Rule 512, assessed a fine in the amount of $1,000 against ICAP Securities Limited for its violation of COMEX Rule 526.F.

EFFECTIVE DATE:

December 7, 2018