Makor Securities London Limited has agreed to pay a fine of $35,000 under a settlement offer with CME.
Pursuant to the offer of settlement in which Makor neither admitted nor denied the rule violations upon which the penalty is based, a Panel of the Chicago Mercantile Exchange (CME) Business Conduct Committee found that from July 28, 2021, through July 30, 2021, an employee of Makor brokered block trades in E-Mini S&P 500 Put options and failed to accurately and timely report the execution times to the Exchange in violation of CME Rule 526.F.
Additionally, the Panel found that the block trades were executed between accounts with common beneficial ownership. Even though the Makor employee received simultaneous buy and sell orders from the same customer, he failed to inquire whether the orders were for accounts with common beneficial ownership. Therefore, the Panel…
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