International derivatives marketplace CME Group has issued a notice of disciplinary action against SG Americas Securities LLC.

Pursuant to an offer of settlement in which SG Americas Securities LLC (“SGAS”) neither admitted nor denied the rule violation or factual finding upon which the penalty is based, on June 24, 2025, a Panel of the Chicago Mercantile Exchange (CME) Business Conduct Committee found that SGAS

contractually agreed to a period of time during which the firm’s full discretion to determine when and under what circumstances positions could be liquidated was restricted.

The Panel concluded that SGAS thereby violated CME Rule 930.K.1.

The Panel also found that SGAS has since amended the relevant customer agreement language and the cited customer agreement is now in compliance with Exchange rules.

In accordance with the settlement offer, the Panel ordered SGAS to pay a $50,000 fine.

The effective date of the disciplinary notice is June 26, 2025.