NYMEX Fines Brokerage Firm for Block Trade Reporting Failures

The NYMEX Business Conduct Committee (the "BCC Panel") fined an introducing broker $60,000 for reporting failures relating to block trades in violation of NYMEX rules on block trading and supervision.

According to the BCC Panel, Cornerstone Global Commodities LLC ("Cornerstone") failed to report executed block trades to NYMEX in a timely manner. The BCC Panel found inaccurate trade details in the reports and determined that Cornerstone failed to properly supervise its employees on related NYMEX rules and Market Regulatory Advisory Notices.