International derivatives marketplace CME Group has posted a notice of disciplinary action against Mark Ninyo, a retail trader located in the United States.

Pursuant to an offer of settlement in which Mark Ninyo neither admitted nor denied the rule violations or factual findings upon which the penalty is based, a Panel of the COMEX Business Conduct Committee found that during the time period of May 16, 2024, through June 28, 2024, Ninyo entered orders in various Silver and Gold futures contracts with the intent, at the time of order entry, to cancel these orders before execution.

Specifically, Ninyo layered multiple orders on one side of the market and placed smaller orders on the opposite side of the market.

Ninyo cancelled his layered orders shortly after receiving a fill on his smaller orders on the opposite side of the market. As a result of his activity, Ninyo received a profit in the amount of $1,390.

The Panel concluded that Ninyo thereby violated COMEX Rule 575.A.

In accordance with the settlement offer, the Committee ordered Ninyo to pay a fine in the amount of $30,000, disgorge $1,390 in profits, and serve a 10 business-day suspension from access to any trading floor owned or controlled by CME Group and from direct and indirect access to any designated contract market, derivatives clearing organization or swap execution facility owned or controlled by CME Group. The suspension will run from trade date March 2, 2026, through, and including, trade date March 13, 2026.