NOTICE OF SUMMARY ACTION

FILE NO.:

RSRH-20-5743

MEMBER FIRM:

United ICAP, a division of ICAP Corporates LLC

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.

MRAN RA-1916-5R (in part)

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

FINDINGS:

On 20 occasions in January 2020, United ICAP, a division of ICAP Corporates LLC did not report a block trade in a timely manner or with an accurate execution time to the Exchange. These block trades were executed in February 2020, March 2020, and May 2020 RBOB Gasoline Futures, March 2020, April 2020, June 2020, and December 2020 NY Harbor ULSD Futures, and February 2020 and March 2020 Light Sweet Crude Oil Futures.

PENALTY:

On March 17, 2020, pursuant to Rule 512, a fine in the amount of $5,000 was assessed against United ICAP, a division of ICAP Corporates LLC for its violation of NYMEX Rule 526, and NYMEX Rule 526.F.

EFFECTIVE DATE:

April 3, 2020