ICE Futures U.S. has posted a notice of settlement of charges against BofA Securities, Inc.

A subcommittee of the Exchange’s Business Conduct Committee determined that, on September 17, 2024, BofA Securities, Inc. may have violated Rule 4.02(c) when one of its traders entered a buy and a sell order in a manner that resulted in a trade between accounts for the same Principal. Based on the way the trader entered the orders, the trader should have known that a portion of one order would ultimately execute against the other.

In accordance with the terms of settlement, in which BofA Securities neither admitted nor denied the alleged rule violation, BofA Securities agreed to pay a monetary penalty of $10,000.