NOTICE OF SUMMARY ACTION

FILE NO.:

COMEX RSRH-21-6222

MEMBER FIRM:

SSY Futures Ltd.  

COMEX 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-2103-5 (in part)

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

FINDINGS:

On 3 occasions in May 2021, SSY Futures 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 July 2021, August 2021, and September 2021 U.S. Midwest Domestic Hot-Rolled Coil Steel Index, and June 2021 Aluminum MW U.S. Transaction Premium Platts (25MT) Futures.  

PENALTY:

On July 28, 2021, pursuant to Rule 512, a fine in the amount of $1,000 was assessed against SSY Futures Ltd. for its violations of COMEX Rule 526, and COMEX Rule 526.F.

EFFECTIVE DATE:

August 9, 2021