CME-06-27375-BC-CHARLES-ESCOBAR

NOTICE OF DISCIPLINARY ACTION
- - #
  - CME 06-27375-BC
- - Effective Date
  - 25 March 2010
- FILE NO.:
  
  CME 06-27375-BC
  
  MEMBER:
  
  CHARLES ESCOBAR (XBAR)
  
  (LEGACY) CME RULES:
  
  539. Prearranged, Pre-Negotiated and
  Noncompetitive Trades Prohibited
  
  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 Charles Escobar neither admitted nor denied the findings, on March 23, 2010, a Panel of the CME Business Conduct Committee found that on September 21, 2006, while in the Russell 2000® Stock Price Index futures pit, Escobar engaged in a noncompetitive trade while filling a customer order. The panel found that in doing so, Escobar violated legacy CME Rule 539.A., as a minor offense.
  
  PENALTY:
  
  In accordance with the settlement offer, the Panel fined Escobar $10,000, and suspended his membership privileges, access to the floor of any CME Group exchange and having direct access to all CME Group electronic trading and clearing platforms for 7 business days. The suspension will run from April 8, 2010, through April 16, 2010, inclusive.
  
  EFFECTIVE DATE:
  
  March 25, 2010

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