ICE Futures Seeks CFTC Authority for More Summary Fines (with DeWaal Summary)

On January 10, 2014, ICE Futures filed with the CFTC proposed amendments to its disciplinary rules. The amendments enable ICE (through its Vice President of Market Regulation) to authorize summary fines of up to U.S.$10,000 for certain infractions related to block trades, including the failure to meet applicable minimum quantity requirements, or the failure of a participant to meet eligible contract participant requirements, and the failure to produce documents and other records requested by authorized Exchange personnel or committees in a timely manner. These rule amendments are scheduled to be effective on January 28, 2014.

See: ICE-Proposed Amendments.Summary provided by Gary DeWaal, President of Gary DeWaal Associates.