NOTICE OF SUMMARY ACTION

FILE NO.:

CBT-RSRH-20-5774

MEMBER FIRM:

MORGAN STANLEY & CO LLC

CBT RULES:

CBT Rule 807. Open Long Positions During Delivery Month

At such times and in such manner as shall be prescribed by the Manual, clearing members shall submit a complete and accurate record of dates of all open purchases for use in making deliveries. Clearing members shall be fully responsible for inventories submitted to the Clearing House. This rule shall not apply to trading in options contracts.

FINDINGS:

During the month of February 2020, Morgan Stanley & Co. LLC inaccurately reported long positions eligible for delivery in the March 2020 Rough Rice futures contracts.

PENALTY:

On March 10, 2020, pursuant to Rule 512, a fine in the amount of $1,500 was assessed against Morgan Stanley & Co., LLC for its violation of Rule 807.

EFFECTIVE DATE:

April 1, 2020