NOTICE OF SUMMARY ACTION

FILE NO:       

CBOT DQA-23-1115

MEMBER FIRM:

UBS SECURITIES LLC

RULE VIOLATION:

RULE 576. IDENTIFICATION OF GLOBEX TERMINAL OPERATORS

Each Globex terminal operator shall be identified to the Exchange, in the manner prescribed by the Exchange, and shall be subject to Exchange rules. If user IDs are required to be registered with the Exchange, it is the duty of the clearing member to ensure that registration is current and accurate at all times.  Each individual must use a unique user ID to access Globex. In no event may a person enter an order or permit the entry of an order by an individual using a user ID other than the individual’s own unique user ID.

FINDINGS:

During the period of October 1, 2022 through December 31, 2022, UBS Securities LLC violated Rule 576 by failing to maintain current and accurate information in the Exchange Fee System.

PENALTY:

On May 3, 2023, UBS Securities LLC, pursuant to Rule 512 (“Reporting Infractions”), was collectively issued an $8,000 fine for its violations of Rule 576, as follows (see companion cases CME DQA-23-1115, NYMEX DQA 23-1115 and COMEX DQA 23-1115):  CME - $2,000, CBT - $2,000, COMEX - $2,000, NYMEX - $2,000.

EFFECTIVE DATE:

May 19, 2023