NOTICE OF DISCIPLINARY ACTION

MEMBER:

DANIEL SHAK

EXCHANGE RULE:

NYMEX LEGACY RULE 443. POSITION LIMIT VIOLATIONS

Any positions in excess of those permitted under the rules of the Exchange shall be deemed position limit violations.

FINDINGS:

Pursuant to an offer of settlement that Daniel Shak (“Shak”) presented at a hearing on April 15, 2015, in which Shak neither admitted nor denied the factual allegations or the conclusions therein or rule violation upon which the penalty is based, a Panel of the COMEX Business Conduct Committee (“BCC”) found that Shak, a member of the Exchange, was subject to the jurisdiction of the BCC, pursuant to Exchange Rules 400 and 402 and that, during the time period of September 14, 2009 through September 17, 2009 Shak exceeded the accountability limits set by Market Regulation in December 2011 Gold Futures (“DEC11 Gold”).

The Panel concluded that Shak violated NYMEX Legacy Rule 443. (“Position Limit Violations”).

PENALTY:

In accordance with the settlement offer, the Panel ordered Shak to pay a fine to the Exchange in the amount of $25,000.