Ice Futures US has published a notice of settlement of the accusations against GCB Cocoa Singapore PTE Ltd.
A Subcommittee of the Exchange Business Behavioral Committee found that the GCB Cocoa Singapore PTE LTD may have violated the Exchange Rule 4.02 (c) by performing multiple exchanges for relevant positions (EFRPS) that led to washing transactions.
Specifically, the GCB cocoa executed the EFRPS to move positions between accounts under joint control and ownership.
According to the terms of settlement, in which Cocoa did not admit or denied the alleged rules violations, the GCB Cocoa agreed to pay a $ 50,000 monetary penalty.
The start date of the disciplinary notice is September 25, 2025.