NOTICE OF SUMMARY ACTION

FILE NO: 

NYMEX DQA‐24-1391 

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, 2023, through December 31, 2023, UBS  Securities LLC violated Rule 576 by failing to maintain current and accurate registrations in the Exchange Fee System. Additionally, UBS failed to ensure that Operator IDs at the firm were unique. 

PENALTY: 

On May 16, 2024, UBS Securities LLC, pursuant to Rule 512 (“Reporting  Infractions”), was collectively issued a $10,000 fine for its violations of Rule 576 (see companion cases CME DQA-24-1391, CBOT DQA 24-1391, and COMEX DQA 24-1391) as follows:  CME - $2,500, CBOT - $2,500, COMEX - $2,500, and NYMEX - $2,500. 

EFFECTIVE DATE: 

June 4, 2024