NOTICE OF SUMMARY ACTION

FILE NO: 

CME DQA-21-0630

MEMBER FIRM:

HSBC SECURITIES (USA) INC.

RULE VIOLATION:

Rule 576. IDENTIFICATION OF GLOBEX TERMINAL OPERATORS

Each Globex terminal operator shall be identified to the Exchange, in the manner prescribed by the Exchange, and shall be subject to Exchange rules. If operator IDs are required to be registered with the Exchange, it is the duty of the clearing member to ensure that registration is current and accurate at all times.  Each individual must use a unique operator ID to access Globex. In no event may a person enter an order or permit the entry of an order by an individual using a user ID other than the individual’s own unique user ID.

FINDINGS:

During the period of January 1, 2021 to March 31, 2021, HSBC Securities (USA) Inc. violated Rule 576 by failing to maintain current and accurate information in the Exchange Fee System.  

PENALTY:

On June 16, 2021, HSBC Securities (USA) Inc., pursuant to Rule 512 (“Reporting Infractions”), was collectively issued a $4,000 fine for its violation of Rule 576. The allocation of the fine across exchanges is based on the activity at each Designated Contract Market.

CME           $2,000

CBOT         $2,000

Total Fine   $4,000

EFFECTIVE DATE:

July 2, 2021