International derivatives marketplace CME Group has published a notice of disciplinary action against Logista Advisors LLC.

Pursuant to an offer of settlement in which Logista Advisors LLC, neither admitted nor denied the rule violation or factual findings upon which the penalty is based, a Panel of the New York Mercantile Exchange Business Conduct Committee found that on several days between January 16, 2020, and February 25, 2020, a trader at Logista Advisors, a registered Commodity Pool Operator and Commodity Trading Advisor located in the United States, entered orders in the NYMEX Henry Hub Natural Gas futures spread market that resulted in imbalances at the top of the order book.

Specifically, the trader entered large orders in the MAR20-APR20 Nat Gas futures spread market at either the best bid or best offer such that his orders comprised a significant portion of all volume resting at multiple book levels on one side of the market. Following those imbalances, the trader entered aggressive orders for execution.

Logista Advisors received $32,710 in monetary benefits as a result of this activity.

The Panel concluded that Logista Advisors thereby violated NYMEX Rule 432.B.2.

In accordance with the settlement offer, the Panel ordered Logista Advisors LLC to pay a $180,000 fine and disgorge profits in the amount of $32,710.

The effective date of the disciplinary notice is July 23, 2026.