NOTICE OF SUMMARY ACTION

FILE NO.:             

NYMEX RSRH-22-6539

MEMBER FIRM:

Oil Brokerage 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-2201-5 (in part)

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

FINDINGS:

On 18 occasions in February 2022, Oil Brokerage Ltd did not report block trades in a timely manner or in 2 of those instances with an accurate execution time to the Exchange.  These block trades were executed in April 2022, June 2022, and August 2022, September 2022, and October 2022 Henry Hub Natural Gas Futures.

PENALTY:

On June 15, 2022, pursuant to Rule 512, a fine in the amount of $4,000 was collectively assessed against Oil Brokerage Ltd for its violations of NYMEX Rule 526 and NYMEX Rule 526.F. (see companion case NYMEX-RSRH-22-6565).

EFFECTIVE DATE:

July 1, 2022