NOTICE OF DISCIPLINARY ACTION

NON-MEMBER:

KURT A. OHMS

NYMEX RULE VIOLATION:

575.D. DISRUPTIVE PRACTICES PROHIBITED (in part)

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.

D. No person shall enter or cause to be entered an actionable or non-actionable message(s) with intent to disrupt, or with reckless disregard for the adverse impact on, the orderly conduct of trading or the fair execution of transactions.

FINDINGS:

Pursuant to an offer of settlement in which Kurt A. Ohms neither admitted nor denied the rule violation upon which the penalty is based, on December 13, 2022, a Panel of the New York Mercantile Exchange (“NYMEX”) Business Conduct Committee (“Panel”) found that on multiple occasions between July 31, 2020, and September 28, 2020, as well as on September 21, 2021, in NY Harbor ULSD, Platinum, RBOB Gasoline, and Natural Gas futures, Ohms entered aggressive buy and sell orders that far exceeded the quantity of the best bid and offer and beyond. The orders traded immediately through multiple price levels and resulted in disruptive price movements and reversions.

The Panel concluded that Ohms violated NYMEX Rule 575.D.

PENALTY:

In accordance with the settlement offer, the Panel ordered Ohms to pay a $35,000 fine and to serve a 75-business day suspension from access to any trading floor owned or controlled by CME Group and from direct and indirect access to any designated contract market, derivatives clearing organization or swap execution facility owned or controlled by CME Group. The suspension will run from December 15, 2022, through and including April 4, 2023.