NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CME 06-27375-BC

MEMBER:

CHRIST SIRIGAS (KRIS)

(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….

532. Disclosing Orders Prohibited

….No person shall take action or direct another to take action based on non-public order information, however acquired….

432. Major Offenses

It shall be a major offense:
…
Q. to commit an act which is substantially detrimental to the interest or welfare of the Exchange.

FINDINGS:

Pursuant to an offer of settlement in which Christ Sirigas neither admitted nor denied the findings, on June 22, 2010, a Panel of the CME Business Conduct Committee found that on multiple occasions in 2006, while in the Russell 2000® Stock Price Index futures pit, Sirigas engaged in noncompetitive trading, traded on non-public order information, and on one occasion traded ahead of his customer orders and indirectly traded opposite his customer orders. The Panel also found that in 2005 and 2006 Sirigas engaged in a pattern of noncompetitive trading in order to improperly move money into another member’s account. The Panel found that in doing so, Sirigas violated legacy CME Rules 539, as major offense, 532, as a major offense and 432.Q., a major offense.

PENALTY:

In accordance with the settlement offer, the Panel: (i) fined Sirigas $100,000 and ordered him to pay disgorgement in the amount of $13,700.00, (ii) suspended his membership privileges, access to the trading floor of any CME Group Exchange and having direct access to all CME Group electronic trading and clearing platforms for 120 business days, and (iii) barred Sirigas from handling customer orders for three years. The suspension will run from June 24, 2010, through December 13, 2010, inclusive.

EFFECTIVE DATE:

June 24, 2010