International derivative CME’s CME team has published a discipline alert against DRW Execution Services, LLC.
According to a settlement offer, in which Drw, LLC (“DEX”) services neither acknowledged nor denied the breach of the rule or the actual finding on which the penalty is based, the Committee of the Chapter required by the Capital, which cannot be maintained. subsidiaries.
The table concluded that DEX thus violated the CME 970.A.1 rule.
CME Rule 970. Financial requirements (in part) declare:
“A. Without prejudice to exemptions granted by Exchange staff, all liquidation members, including non -FCM, must comply with the requirements set out in CFTC 1.10, 1.12, 1.17 and 1.18.
- Maintaining the minimum capital requirements of at least $ 5 million, except that a member of a bank who is a bank must maintain the minimum capital of Class I (as defined in accordance with the regulation applicable to the relevant bank) of at least $ 5 billion. “
According to the settlement offer, the team ordered the Dex to pay a fine of $ 50,000.