NOTICE OF SUMMARY ACTION

FILE NO.:

NYMEX RSRH-21-6347

MEMBER FIRM:

ICAP Energy LLC

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-2109-5 (in part)

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

FINDINGS:

On 6 occasions in September 2021, ICAP Energy LLC did not report block trades in a timely manner to the Exchange.  These block trades were executed in October 2021 Henry Hub Natural Gas Futures and October Henry Hub Natural Gas Look-Alike Penultimate Financial Futures.  

PENALTY:

On November 17, 2021, pursuant to Rule 512, a fine in the amount of $1,500 was assessed against ICAP Energy LLC for its violations of NYMEX Rule 526, and NYMEX Rule 526.F.

EFFECTIVE DATE:

December 3, 2021