Ice Futures US has published a notification of accusations against Stonex Financial Ltd.
On September 24, 2025, a subcommittee of the Exchange Business Behavioral Committee found that Stonex may have violated the exchange rules by mediation or executing a series of non -transactions for the relevant position (EFRP).
The Commission found that Stonex may have violated Rule 4.02 (C), in the direction of its customer, mediated in multiple opposing EFRP transactions between accounts maintained in different liquidation companies and in the name of different entities, but ultimately controlled by a single customer, resulting in washing transactions.
In these cases, Stonex should have committed due diligence to ascertain whether the EFRPS satisfied the “independent controlled” requirements of the rule, especially as the purpose of the EFRPS customer was to move a future position from one account to another.
In addition, the Commission found that Stonex may have violated Rule 4.06 (B) (V) by executing non-Bona Fide Efrps without creating the usual OTC documentation according to the relevant market practices.
The Commission also found that Stonex may violate Rule 4.01 (A), failing to supervise its exchange rates and rule 4.01 (b), failing to determine, manage and impose supervisory systems, policies and procedures related to EFRP requirements.
Finally, the Commission concluded that Stonex may have violated Rule 4.04, failing to comply with various exchange rules and procedures.
According to the terms of settlement, in which Stonex did not admit or denied the alleged rule violations, Stonex agreed to pay a monetary penalty of $ 100,000.
The date of entry into force of the notice is September 24, 2025.