NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CBOT 08-02833-BC

MEMBER FIRM:

EAGLE MARKET MAKERS INC.

CBOT 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:

Pursuant to an offer of settlement in which Eagle Market Makers Inc. (“Eagle”) neither admitted nor denied the rule violations upon which the penalty is based, on August 16, 2012, a Panel of the Chicago Board of Trade Business Conduct Committee found that from 2008 through 2011 Eagle did not properly register Globex electronic trading platform user IDs (“Tag 50 IDs”) for individuals using or monitoring an Automated Trading System (“ATS”), and did not ensure that Eagle clerks and traders logged onto Globex using their own unique Tag 50 ID. The Panel found that in so doing, Eagle violated CBOT Rule 576.

PENALTY:

In accordance with the settlement offer, the Panel fined Eagle $20,000.

EFFECTIVE DATE:

August 20, 2012