NOTICE OF DISCIPLINARY ACTION

FILE NO.:

NYMEX 11-08045-BC
 

NON-MEMBER:

Schneider Trading Associates Ltd.
 

NYMEX RULE VIOLATION:

Rule 562. 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 in which Schneider Trading Associates Ltd. (“Schneider”), a non-member of the Exchange subject to its jurisdiction pursuant to NYMEX Rule 400, neither admitted nor denied the rule violation upon which the penalty is based, on December 20, 2011, a panel of the NYMEX Business Conduct Committee found that:

On January 18, 2011, a date subject to a 3,000 contract end of month position limit for the expiring February 2011 Light Sweet Crude Oil futures contract, Schneider maintained a long Light Sweet Crude Oil position which exceeded the end of month position limit by 1,492 contracts or 49.73% of the permitted level.

The Panel found that in so doing, Schneider violated NYMEX Rule 562.
 

PENALTY:

In accordance with the settlement offer, the Panel ordered Schneider to pay a fine of $25,000.
 

EFFECTIVE DATE:

December 22, 2011