NOTICE OF SUMMARY ACTION

FILE NO: 

NYMEX DQA‐24-1392 

MEMBER FIRM: 

MORGAN STANLEY & CO. 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,  Morgan Stanley & Co. LLC violated Rule 576 by failing to maintain current and accurate registrations in the Exchange Fee System.  Additionally, Morgan Stanley & Co. LLC violated Rule 576 by  submitting an Operator ID representing multiple Individual users. 

PENALTY: 

On June 12, 2024, Morgan Stanley & Co. LLC, pursuant to Rule 512  (“Reporting Infractions”), was collectively issued a $3,000 fine for its violations of Rule 576 (see companion Case CBOT DQA-24-1392), as follows:  CBOT - $1,500, NYMEX - $1,500.  

EFFECTIVE DATE: 

June 28, 2024