NOTICE OF DISCIPLINARY ACTION

NON-MEMBER:

ANTONIA SIMOES

EXCHANGE RULES: RULE 575.A. (DISRUPTIVE PRACTICES PROHIBITED)

All orders must be entered for the purpose of executing bona fide transactions. Additionally, all non-actionable messages must be entered in good faith for legitimate purposes.

A. No person shall enter or cause to be entered an order with the intent, at the time of order entry, to cancel the order before execution or to modify the order to avoid execution.

FINDINGS:

On June 22, 2017, a Panel of the Commodity Exchange (“COMEX”) Probable Cause Committee charged Antonia Simoes (“Simoes”) with violating NYMEX Rules 575.A. based on allegations that on multiple trade dates during the time period of July 2015 through September 2015, Simoes employed a trading strategy that consisted of entering and canceling multiple layered orders without the intent to trade.

On September 11, 2017, a Hearing Panel Chair of the COMEX Business Conduct Committee (“BCC”) entered an order finding that Simoes failed to answer the charge against her. The Hearing Panel Chair further ordered that Simoes was deemed to have admitted the charge issued and waived her right to a hearing on the merits of the charge.

On September 28, 2017, a penalty hearing was held before a panel of the COMEX BCC (“BCC Panel”) which found that Simoes had committed the violation charged.

PENALTY:

In accordance with NYMEX Rule 402.B (Sanctions), the BCC Panel ordered Simoes to (1) pay a fine in the amount of $50,000; and (2) be permanently banned from (a) applying for Membership at any CME Group exchange; (b) direct or indirect access to any trading or clearing platform owned or controlled by the CME Group, Inc.; and (c) access to any trading floor owned or operated by any CME Group, Inc. exchange, including CME Globex.