NOTICE OF SUMMARY ACTION

FILE NO.:

NYMEX RSRH-23-6945

MEMBER FIRM:

SSY Futures 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-2204-5 (in part)

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

FINDINGS:

On three occasions in June 2023, SSY Futures Ltd. did not report block trades timely and, in four instances, with an accurate execution time to the Exchange.  These block trades were executed in July 2023 – September 2023 Lithium Hydroxide CIF CJK (Fastmarkets) Futures and March 2024 – August 2024 Lithium Hydroxide CIF CJK (Fastmarkets) Futures, July 2023 – December 2023 Aluminum European Premium Duty-Paid (Metal Bulletin) Futures, and July 2023 – September 2023 U.S. Midwest Domestic Hot-Rolled Coil Steel Index Average Price Options.    

PENALTY:

On August 9, 2023, pursuant to Rule 512, a fine in the amount of $2,000 was assessed against SSY Futures Ltd. for its violations of NYMEX Rule 526 and NYMEX Rule 526.F.

EFFECTIVE DATE:

August 25, 2023