International derivatives marketplace CME Group has issued a notice of disciplinary action against Jorge Manuel Moreira da Silva.

On October 24, 2024, the Chief Regulatory Officer of CME Group’s Market Regulation Department issued charges against da Silva for violating Rules 432.G., and 432.L.1. based on allegations that from January 27, 2023, through March 6, 2023, da Silva prearranged the execution of transactions in Micro Crude Oil Options for the purpose of transferring equity from a customer’s account to his personal account.

Da Silva executed these trades between his personal account and the customer’s account he controlled, and exclusively for the financial benefit of his personal account. The customer account lost $4,738 as a result of these transactions.

Further, da Silva also failed to appear at a scheduled Exchange staff interview on April 12, 2024.

On April 16, 2025, a Hearing Panel Chair of the NYMEX Business Conduct Committee (“BCC”) first determined that da Silva, having failed to submit a written answer to the charges issued against him, was deemed to have admitted the charges. Da Silva therefore waived his right to a hearing on the merits of the charges.

Pursuant to Rule 408.F., a BCC Panel then found da Silva guilty of committing the admitted charges and held a penalty hearing thereafter.

Based on the record and the Panel’s findings and conclusions, the Panel ordered da Silva to pay a fine in the amount of $100,000, pay restitution in the amount of $4,738, and serve a permanent suspension from direct 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 disciplinary notice is effective May 5, 2025.