ICE Futures U.S. has posted a disciplinary notice against Merrill Lynch Commodities, Inc (MLCI).
On July 31, 2024, a subcommittee of the Exchange’s Business Conduct Committee (BCC) determined that Merrill Lynch Commodities, Inc may have violated Exchange Rules 6.20(b) and 6.29(d).
The Committee found that during the April 2023 and May 2023 expiration periods for the Henry LD1 Fixed Price Future, MLCI held positions in excess of the applicable spot month positions limits that did not appear to comply with the terms of an exemption granted by the Exchange.
The Committee also found that MLCI may have violated Exchange Rule 4.01(a) by failing to diligently supervise the Exchange-related activities of its employees and Exchange Rule 4.01(b) by failing to establish, administer, and enforce supervisory systems,…
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