NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CME 09-06652-BC

NON-MEMBER:

TAREQ ANSARI

CME RULE VIOLATION:

Rule 534. Wash Sales Prohibited

No person shall place for the same beneficial owner buy and sell orders for the same product and expiration month . . . at or about the same time with the intent to avoid a bona fide market position exposed to market risk (transactions commonly known or referred to as wash sales). . . .

FINDINGS:

Pursuant to an offer of settlement in which Tareq Ansari neither admitted nor denied the rule violation upon which the penalty is based, on August 18, 2011, a Panel of the CME Business Conduct Committee found that between September 2, 2009 and September 16, 2009, Tareq Ansari, while acting as the Chief Executive Officer of Al Aula Financial Investment Co., and one of his assistants executed 30 transactions on the CME Globex electronic trading platform where accounts with the same beneficial ownership were on opposite sides of the transactions. Tareq Ansari’s purpose in executing these transactions was to transfer open positions in the December 2009 E-mini Standard & Poor’s 500 Stock Price Index futures contract from one Al Aula account to another. In so doing, the Panel found that Ansari violated CME Rule 534.

PENALTY:

In accordance with the settlement offer and in consideration of Ansari’s cooperation during the course of the investigation, the Panel fined Ansari $30,000.

EFFECTIVE DATE:

August 22, 2011