NOTICE OF SUMMARY ACTION

FILE NO.:               

DQA-19-0216

MEMBER:           

ANDREW S. BRAUN (ASB)

RULE VIOLATION:          

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

(In pertinent part)

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 September 2019, Andrew S. Braun 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 October 23, 2019, pursuant to Rule 512, a fine in the amount of $1,000 was assessed against Andrew S. Braun for his violations of Special Executive Report S-7611.

EFFECTIVE DATE:                    

November 8, 2019