ICE Futures US has fined TFS Derivatives Ltd for violating Exchange rules.
The relevant Exchange Rule states:
“Rule 4.07(c) – Preclusion of Trade Infringements
The parties to a transaction bundle shall cause the transaction to be reported to the Exchange in accordance with the procedure specified by the Exchange from time to time. (Excluding trades in MSCI index futures must be reported for publication within 15 minutes of execution. the next business day.)”
The list of affected products includes:
- MSCI Emerging Markets Index Futures
- MSCI Japan NTR Index Futures
- MSCI EAFE BIC Index
At TFS Derivatives Ltd. was summarily fined $10,000 for violating Rule 4.07(c) by reporting Block Trades between March and September 2022 after the Exchange’s required reporting time.