NOTICE OF SUMMARY ACTION

FILE NO.:

CME DQA-23-1348

MEMBER:

PATRICK T. COLEMAN

RULE VIOLATION:

SPECIAL EXECUTIVE REPORT S-9153 (February 15, 2023) – (“UPDATED REQUIREMENTS FOR PROPER RECORDATION, ENDORSEMENT AND KEYPUNCHING OF CME BROKERAGE REASSIGNMENT (“BK”) TRADES”) (In pertinent part)

The BK process must be used by all IOM members who execute an options/futures spread trade via open outcry in an options pit where the futures leg of the spread is a product outside of the IOM member’s division.

FINDINGS:

On multiple occasions during October 2023, Coleman failed to denote the acronym of the higher division member to be credited with the brokerage applicable to the execution of the futures leg of the spread in violation of the requirements of Special Executive Report S-9153.

PENALTY:

On November 15, 2023, pursuant to Rule 512 (“Reporting Infractions”), a fine in the amount of $2,000 was assessed against Coleman for his violations of Special Executive Report S-9153.

EFFECTIVE DATE:

December 1, 2023