NOTICE OF DISCIPLINARY ACTION

NON-MEMBER:

Eng Boon Kian

CBOT RULE VIOLATION:

Rule 575. Disruptive Practices Prohibited (in part)

All orders must be entered for the purpose of executing bona fide transactions. Additionally, all non-actionable messages must be entered in good faith for legitimate purposes.

A. No person shall enter or cause to be entered an order with the intent, at the time of order entry, to cancel the order before execution or to modify the order to avoid execution.

FINDINGS:

Pursuant to an offer of settlement in which Eng Boon Kian (“Kian”) neither admitted nor denied the rule violation or factual findings upon which the penalty is based, on April 10, 2024, a Panel of the Chicago Board of Trade (“CBOT”) Business Conduct Committee (“Panel”) found that on multiple occasions from June 10, 2022, through October 16, 2022, Kian engaged in a pattern of trading activity in various Soybean Oil and Soybean futures contracts where he would place a small order on one side of the market before entering a larger order or series of orders on the opposite side of the market. After the smaller order was filled, Kian canceled the large orders. The Panel determined that Kian entered the large orders with the intent to cancel before execution. As a result of the activity, Kian realized a benefit of $2,049. Therefore, the Panel concluded that Kian violated CBOT Rule 575.A.

PENALTY:

In accordance with the settlement offer, the Panel ordered Kian to pay a $15,000 fine, disgorge profits in the amount of $2,049, and serve a 35-business day suspension from direct access to any trading floor owned or controlled by CME Group and from direct and indirect access to any designated contract market, derivatives clearing organization or swap execution facility owned or controlled by CME Group. The suspension shall begin on the effective date and continue for 35-business days from the date that the ordered fine and disgorgement are paid.