NOTICE OF DISCIPLINARY ACTION

NON-MEMBER:

JOEL ALMEIDA SANTOS

NYMEX RULE:

Rule 432 General Offenses

It shall be an offense:

G. To prearrange the execution of transactions in Exchange products for the purpose of transferring equity between accounts.

FINDINGS:

Pursuant to an offer of settlement in which Joel Almeida Santos neither admitted nor denied the rule violation upon which the penalty is based, on December 14, 2021, a Panel of the NYMEX Business Conduct Committee (“BCC Panel”) found that on April 20, 2020, Santos prearranged the execution of round-turn transactions in various options on Crude Oil futures between an account he owned and a customer account traded by another individual for the purpose of transferring equity between these accounts.

The Panel found that as a result of the foregoing, Santos violated Rule 432.G.

PENALTY:

In accordance with the settlement offer, the BCC Panel ordered Santos to pay a $25,000 fine and serve a 10 business day suspension from access to any trading floor owned or controlled by CME Group and from direct and indirect access to any designated contract market, derivatives clearing organization or swap execution facility owned or controlled by CME Group. The suspension shall run from December 16, 2021 through December 30, 2021, inclusive.