NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CME 11-8063-BC

MEMBER:

TIMOTHY KIRCHNER
 

CME 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 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 Timothy Kirchner neither admitted nor denied the rule violation upon which the penalty is based, on June 26, 2013, a Panel of the CME Business Conduct Committee (the “Panel”) found that during
2010 Kirchner permitted another individual to enter orders on Globex using Kircher’s Globex user ID (“TAG 50”). The Panel found that in so doing, Kirchner violated CME Rule 576.

PENALTY:

In accordance with the settlement offer, the Panel ordered Kirchner to pay a fine of $5,000 and have his membership privileges, access to all CME Group trading floors and direct access to all electronic trading and clearing platforms owned or controlled by CME Group suspended for 15 business days, from June
28, 2013, to July 19, 2013, inclusive.

EFFECTIVE DATE:

June 28, 2013