• Disciplinary Procedures Applicable to Violations of KCBT Rules

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • CBOT & KCBT RA1301-8
      • Notice Date
      • 08 November 2013
      • Effective Date
      • 08 November 2013
    • On July 1, 2013, the Board of Trade of Kansas City, Missouri, Inc. ("KCBT") adopted new Chapter 4 ("Enforcement of Rules") setting forth the Exchange's rules with respect to conducting disciplinary investigations and the manner in which violations of KCBT Rules would be sanctioned. The rules in Chapter 4 were harmonized with the existing disciplinary process rules located in Chapter 4 of the Board of Trade of the City of Chicago, Inc.'s ("CBOT") Rulebook.
       
      Upon CFTC approval of the joint KCBT and CBOT pending petition to the CFTC to transfer the open interest in KCBT products to CBOT and for approval for KCBT to vacate its registration as a designated contract market, the KCBT Rulebook will be eliminated in its entirety as of the effective date of the vacation. 
       
      Market participants are advised that from the date of the transfer of open interest forward, any KCBT disciplinary processes, including any investigations, that are ongoing and any activity which potentially violates KCBT rules that is discovered after the transfer date will be subject to investigation, enforcement and sanctioning by CBOT, including but not limited to the use of a panel of the CBOT Probable Cause Committee to issue charges for violations of former KCBT Rules and the use of a panel of the CBOT Business Conduct Committee to consider any settlement offers or to conduct any hearings on charges issued.  
       
       
      Questions regarding this Advisory Notice may be directed to Robert Sniegowski, Senior Director, Market Regulation, at 312.341.5991.
       
      For media inquiries concerning this Advisory Notice, please contact CME Group Corporate Communications at 312.930.3434 or news@cmegroup.com.
       

       

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