NOTICE OF DISCIPLINARY ACTION

MEMBER:          

INTL FC Stone Markets, LLC

CBOT RULE VIOLATIONS:    

Rule 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 INTL FC Stone Markets, LLC (“FC Stone”) neither admitted nor denied the rule violation or factual findings upon which the penalty is based, on July 27, 2020, a Panel of the Chicago Board of Trade (“CBOT”) Business Conduct Committee (“Panel”) found that at the close of trading on September 27, 2019, FC Stone held an end of day futures equivalent short position of 785 October 2019 Soybean Oil futures contracts, which exceeded the spot month speculative position limit of 540 contracts by 245 contracts, or 45.37%. On September 30, 2019, the next trade date, FC Stone liquidated the overage to bring its position into compliance and did not profit from doing so. The Panel thus concluded that FC Stone thereby violated CBOT Rule 562.

PENALTY:          

In accordance with the settlement offer, the Panel ordered FC Stone to pay a fine of $35,000.00

EFFECTIVE DATE:                

July 29, 2020