NOTICE OF SUMMARY ACTION

FILE NO.:

NYMEX-RSRH-20-5813-5

MEMBER FIRM:

United ICAP, a division of ICAP Corporates LLC

NYMEX RULE VIOLATION:

526.F. BLOCK TRADES

Unless otherwise agreed to by the principal counterparties to the block trade, the seller, or, in the case of a brokered transaction, the broker handling the block trade, must ensure that each block trade is reported to the Exchange within the time period and in the manner specified by the Exchange. The report must include the contract, contract month, price, quantity of the transaction, the respective clearing members, the time of execution, and, for options, strike price, put or call and expiration month. The Exchange shall promptly publish such information separately from the reports of transactions in the regular market.

FINDINGS:

On 21 occasions in April 2020, United ICAP, a division of ICAP Corporates LLC did not report a block trade in a timely manner or with an accurate execution time to the Exchange. These block trades were executed in April 2020, May 2020, June 2020, July 2020, and December 2020 RBOB Gasoline Futures, May 2020 and June 2021 NY Harbor ULSD Futures, October 2021 Henry Hub Natural Gas Futures, May 2020, June 2020, July 2020, August 2020, and June 2022 Light Sweet Crude Oil Futures, June 2020, September 2020, December 2020, and December 2021 Brent Crude Oil Last Day Financial Futures,

PENALTY:

On July 8, 2020, pursuant to Rule 512, a fine in the amount of $7,000 was assessed against United ICAP, a division of ICAP Corporates LLC for its violation of NYMEX Rule 526, and NYMEX Rule 526.F.

EFFECTIVE DATE:

July 24, 2020