NOTICE OF SUMMARY ACTION

FILE NO.:                          

COMP-18-3322

MEMBER FIRM:                          

JPMorgan Chase Bank, N.A.

CBOT 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.

FINDINGS:                       

On two occasions in November 2018, JPMorgan Chase Bank, N.A. did not report a block trade in a timely manner to the Exchange. These block trades were executed in January 2019 Corn Options and May 2019 Soybean Options.

PENALTY:                         

On January 10, 2019, the Rule 512 committee, pursuant to Rule 512, assessed a fine in the amount of $2,500 against JPMorgan Chase Bank, N.A. for its violation of CBOT Rule 526.F.

EFFECTIVE DATE:

January 29, 2019