International derivatives marketplace CME Group has published a notice of disciplinary action against Ryan Dofflemeyer.
Pursuant to an offer of settlement in which Ryan Dofflemeyer neither admitted nor denied the rule violation or factual findings upon which the penalty is based, a Panel of the Chicago Mercantile Exchange (CME) Business Conduct Committee found that on March 25, 2022, March 30, 2022, and April 26, 2022, Dofflemeyer executed three block trades in April 2022 Bitcoin futures between accounts with common beneficial ownership for the purpose of transferring positions between accounts.
Dofflemeyer acted as the sole decision maker for the trades, which did not have legal and independent bona-fide business purposes.
Accordingly, Dofflemeyer knew or reasonably should have known that the transactions would produce wash results.
The Panel concluded that as a result of the foregoing, Dofflemeyer violated CME Rule 534.
In accordance with the settlement offer, the Panel ordered Dofflemeyer to pay a $15,000 fine and serve a five-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, continuing through and including trade date June 21, 2024.
