NOTICE OF SUMMARY ACTION

FILE NO.:             

CME RSRH-22-6656

MEMBER FIRM:

BNP Paribas Securities Corporation  

CME 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-2202-5 (in part)

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

FINDINGS:

On one occasion in July 2022, BNP Paribas Securities Corporation did not report block trades in a timely manner and in four instances with an accurate execution time to the Exchange. These block trades were executed in August 2022 GBP/USD Monthly Options, August 2022 WK2 JPY/USD Weekly Monday Options, August 2022 WK2 JPY/USD Weekly Friday Options, September 2022 E-mini S&P 500 Select Sector Index Futures – Health Care.

PENALTY:

On September 21, 2022, pursuant to Rule 512, a fine in the amount of $3,000 was assessed against BNP Paribas Securities Corporation for its violations of CME Rule 526 and CME Rule 526.F.

EFFECTIVE DATE:

October 7, 2022