NOTICE OF SUMMARY ACTION

FILE NO.:

NYMEX RSRH-21-6094

MEMBER FIRM:

Spectron Energy Asia Pte. Ltd.

NYMEX 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-2013-5 (in part)

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

FINDINGS:

On ten occasions in January 2021, Spectron Energy Asia Pte. Ltd. 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 February 2021 and March 2021 Mini European Naphtha CIF NWE (Platts) Futures, February 2021, March 2021, and April 2021, Argus Propane Far East Index Futures, February 2021, March 2021, April 2021, and May 2021, Mont Belvieu LDH Propane (OPIS) Futures, and February 2021 and March 2021 Argus Propane (Saudi Aramco) Futures.  

PENALTY:

On April 7, 2021, pursuant to Rule 512, a fine in the amount of $3,000 was assessed against Spectron Energy Asia Pte. Ltd. for its violation of NYMEX Rule 526.

EFFECTIVE DATE:

April 23, 2021