NOTICE OF SUMMARY ACTION

FILE NO.:

CME RSRH-33163295

MEMBER FIRM:

OTCex LLC   

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-2303-5 (in part)

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

FINDINGS:

On multiple occasions in September 2023, October 2023, and November 2023, OTCex LLC Limited did not report block trades timely and/or with an accurate execution time to the Exchange. These block trades were executed in E-mini S&P Select Sector Index – Financial Futures, Russell 2000 Annual Dividend Index Futures, and Adjusted Interest Rate S&P 500 Total Return Futures

PENALTY:

On January 24, 2024, pursuant to Rule 512, a fine in the amount of $3,000 was collectively assessed against OTCex LLC for its violations of CME Rule 526.F (see companion case CME RSRH-33165664).

EFFECTIVE DATE:

February 15, 2024