NOTICE OF DISCIPLINARY ACTION

FILE NO.:

NYMEX 12-08767-BC

MEMBER:

VISION FINANCIAL MARKETS LLC
 

NYMEX RULE VIOLATION:

716. DUTIES OF CLEARING MEMBERS

Prior to the last day of trading in a physically delivered contract, each clearing member shall be responsible for assessing the account owner’s ability to make or take delivery for each account on its books with open positions in the expiring contract. Absent satisfactory information from the account owner, the clearing member is responsible for ensuring that the open positions are liquidated in an orderly manner prior to the expiration of trading.

FINDINGS:

Pursuant to an offer of settlement in which Vision Financial Markets LLC (“Vision”) presented at a hearing on June 6, 2012, in which Vision neither admitted nor denied the rule violations upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“Panel”) found that on January 31, 2012, the last trading date for the physically settled February 2012 Heating Oil Futures Contract, Vision failed to ensure that open positions held on its books in the physically delivered Heating Oil futures contract were liquidated in an orderly manner prior to the expiration of trading.

The Panel found that in so doing, Vision violated NYMEX Rule 716.

PENALTY:

In accordance with the settlement offer, the Panel ordered Vision to pay a fine to the Exchange in the amount of $15,000.

EFFECTIVE DATE:

June 8, 2012