ICE Futures US has posted a notice of settlement of charges against StoneX Financial Inc.
On September 19, 2024, a subcommittee of the Exchange’s Business Conduct Committee determined that on April 27, 2023, StoneX Financial Inc may have violated Exchange Rule 4.02(c) when an employee placed opposing buy and sell orders in a Cocoa Futures spread market for the same Principal in a way where he knew or should have known that the orders would trade opposite one another resulting in a wash trade.
In accordance with the terms of settlement, in which StoneX neither admitted nor denied the alleged rule violations, StoneX agreed to pay a monetary penalty of $20,000.
