International derivatives marketplace CME Group has posted a notice of disciplinary action against Barclays Capital Inc (BCI).
Pursuant to an offer of settlement in which Barclays Capital neither admitted nor denied the finding or the rule violation upon which the penalty is based, on March 14, 2024, the Clearing House Risk Committee (CHRC) found that BCI contractually agreed to a period of time during which the firm’s full discretion to determine when and under what circumstances positions could be liquidated was restricted.
The CHRC thereby concluded that BCI violated NYMEX Rules 930.K.
The CHRC also found that BCI has since corrected the finding and the cited customer agreement is now in compliance with Exchange rules.
In accordance with the settlement offer, the CHRC imposed a $25,000 fine.
The effective date is March 15, 2024.
