The international derivatives market CME Group has published a notice of disciplinary measures against Barclays Capital Inc (BCI).
Pursuant to a settlement offer in which Barclays Capital neither admitted nor denied the finding or rule violation underlying the penalty, on March 14, 2024, the Clearing House Risk Committee (CHRC) found that BCI contractually agreed for a period time during which the company’s full discretion to determine when and under what conditions the positions could be liquidated was limited.
The CHRC concluded that BCI violated NYMEX Rules 930.K.
The CHRC also found that BCI has since corrected the finding and the reported client agreement is now in compliance with Exchange rules.
Under the settlement offer, CHRC imposed a $25,000 fine.
The effective date is March 15, 2024.