NOTICE OF SUMMARY ACTION

FILE NO.:

CME RSRH-33197663

MEMBER FIRM:

Market Securities, 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 January 2024 and February 2024, Market Securities, LLC did not report block trades with an accurate execution time to the Exchange.  These block trades were executed in Adjusted Interest Rate S&P 500 Total Return TAM Futures and S&P 500 Annual Dividend Index Futures.   

PENALTY:

On July 24, 2024, pursuant to Rule 512, a fine in the amount of $1,000 was assessed against Market Securities, LLC for its violations of CME Rule 526 and CME Rule 526.F.

EFFECTIVE DATE:

August 12, 2024