CME fines Wildhawk Energy for alleged NYMEX rule violations
International derivatives marketplace CME Group has published a notice of disciplinary action against Wildhawk Energy, Inc.
Pursuant to an offer of settlement, in which Wildhawk Energy, Inc. neither admitted or denied the Rule violations or factual findings upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee found that in March 2022, and May 2022, Wildhawk submitted multiple block trades in various Diesel and Gasoline futures spread contracts with inaccurate execution times, and failed to record and retain oral communications related to the execution of several block trade transactions.
The Panel further found that Wildhawk failed to properly advise and train its brokers as to relevant Exchange rules and Market Regulation Advisory Notices (MRANs) in a manner sufficient to ensure compliance with the Exchange’s block trade reporting rules.
The Panel found that as a result of the foregoing, Wildhawk violated NYMEX Rules 526, 536.H. and 432.W.
In accordance with the settlement offer, the Panel ordered Wildhawk to pay a $45,000 fine.