NOTICE OF SUMMARY ACTION

FILE NO.:

RSRH-19-5444

MEMBER FIRM:

PVM FUTURES INC.

NYMEX 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.

SECTION 7C OF MARKET REGULATION ADVISORY NOTICE RA1906-5 (in part)

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

FINDINGS:

On six occasions in March 2019, PVM Futures Inc. did not report a block trade in a timely manner and/or with an accurate execution time to the Exchange. These block trades were executed in May 2019 RBOB Gasoline Futures, May 2019 Gasoline Futures vs. May 2019 Brent Crude Oil Last Day Financial Futures, April 2019 RBOB Gasoline Futures vs. May 2019 RBOB Gasoline Futures, May 2019 RBOB Gasoline Futures vs. June 2019 RBOB Gasoline Futures.

PENALTY:

On June 4, 2019, the Rule 512 designees, pursuant to Rule 512, assessed a fine in the amount of $1,000 against PVM Futures, Inc. for its violation of NYMEX Rule 526.F. and Section 7c of MRAN RA1906-5.

EFFECTIVE DATE:

July 2, 2019