ICE Futures U.S. has posted a disciplinary notice against Victor Baudillon for alleged violations of its rules.

Pursuant to Rule 21.03(f)(i), on October 29, 2024, a subcommittee of the Exchange’s Business Conduct Committee (BCC) found that Baudillon engaged in different coordinated schemes each designed to facilitate the improper transfer of equity into the firm he was working for (“Firm D”) at the cost of different entities. Baudillon failed to participate in the disciplinary process and failed to appear at the BCC meeting to contest the facts set forth in the investigation report prepared by the Market Regulation Department.

As a result, the BCC found that Baudillon was guilty of violating the following Exchange Rules:

• 4.02(c) by coordinating his trading in different illiquid Cotton No. 2 options markets on several days in May 2024 opposite a firm (“Firm C”) in a way that financially benefitted Firm D to Firm C’s disadvantage;
• 4.02(f) by engaging in a money pass in a March 2024 Coffee “C” Option in February 2024 that resulted in a considerable movement of equity from a separate firm’s (“Firm B”) account into Firm D’s account; and
• 4.04 by engaging in the violations previously noted and by participating in a spread trade misallocation scheme in different Coffee “C” and Cocoa Futures markets on several days in February 2024 that financially benefitted Firm D to Firm B’s disadvantage.

Baudillon is permanently banned from access to all ICE Futures U.S. electronic trading platforms, including ICE Block.

In accordance with Rule 4.10(e), Clearing Member Responsibilities, the Market Regulation Department requests that any Clearing Member that clears customer business for ICE Futures U.S. markets that has a customer relationship (directly or indirectly) with Baudillon immediately deny his access and contact the Exchange via the email address noted below immediately. Failure to promptly notify the Exchange of such information may result in a violation of Exchange rules.

The notice got into effect on November 1, 2024.