NOTICE OF SUMMARY ACTION

FILE NO.:

DQA-21-0555

MEMBER:

JOHN A. CALARCO (JCO)

RULE VIOLATION:

515.    REGISTRATION AND IDENTIFICATION OF BROKER ASSOCIATIONS.--

                                         E.    TRADING RESTRICTIONS

                                                (In pertinent part)

The Exchange may impose limits on the percentage of brokerage volume that members of a broker association may execute with one another.

FINDINGS:

During November 2020, Calarco’s execution of orders in Eurodollar options and Eurodollar MidCurve options opposite other members of his broker association exceeded the 20% limit established pursuant to Rule 515.E.

PENALTY:

Pursuant to the Rule 515.E. sanction schedule, Calarco was issued a $5,000 fine on January 4, 2021, for his second violation of Rule 515.E. within 12 months.

EFFECTIVE DATE:

January 20, 2021