NOTICE OF DISCIPLINARY ACTION

MEMBER:

Jason A. Bianco

CBOT RULE VIOLATIONS:

Rule 521. Requirements for Open Outcry Trades (in part)

In open outcry trading, bidding and offering practices must at all times be conducive to the competitive execution of transactions. All open outcry transactions, including spread and combination transactions, shall be made openly and competitively in the pit designated for the trading of the particular transaction. No bid or offer shall be specified for acceptance by a particular trader. Transactions may take place only at the best price available in the open outcry market at the time the trade occurs.

Rule 539. Prearranged, Pre-Negotiated and Noncompetitive Trades Prohibited (in part)

A. General Prohibition

No person shall prearrange or pre-negotiate any purchase or sale or noncompetitively execute any transaction.

FINDINGS:

Pursuant to an offer of settlement in which Jason A. Bianco (“Bianco”) neither admitted nor denied the rule violations upon which the penalty is based, on June 21, 2016, a Panel of the Chicago Board of Trade (“CBOT”) Business Conduct Committee (“Panel”) found that it had jurisdiction over Bianco pursuant to rules 400 and 402 as the conduct occurred while Bianco was a CBOT Member. The Panel further found that on January 6, 2015, while in the 10-Year Treasury Note Options on Futures pit, Bianco, prior to receiving instructions to sell 1,000 contracts, non-competitively traded the 1,000 contracts opposite another broker without offering his order in a manner consistent with open and competitive trades. The Panel concluded that as a result of the foregoing, Bianco violated CBOT Rules 521 and 539.A.

PENALTY:

In accordance with the settlement offer, the Panel ordered Bianco to pay a fine in the amount of $7,500, and to have his access to all CME Group trading floors and direct and indirect access to all electronic trading and clearing platforms owned or controlled by CME Group suspended for a period of 15 business days. The suspension shall run from June 23, 2016, through July, 14, 2016, inclusively.

EFFECTIVE DATE:

June 23, 2016