ICAP Energy agrees to pay $50k fine for alleged violations of ICE Futures US rules
ICE Futures US has published a notice of settlement of charges against ICAP Energy LLC.
On June 11, 2025, a subcommittee of the Exchange’s Business Conduct Committee (BCC) determined that in September 2023, ICAP Energy LLC may have violated Exchange Rule 4.02(c) when an employee brokered accommodation trades that enabled the counterparties to improperly correct a previously consummated erroneous block trade.
The BCC additionally determined that in several instances from March 2024 through April 2024, ICAP may have violated the following Exchange Rules for certain block trades:
- 4.07(c) by misreporting execution times and
- 6.08(a)(ii) by failing to comply with order recordkeeping requirements.
Lastly, the BCC determined that ICAP may have violated Exchange Rule 4.01(a) by failing to diligently supervise the block trade activities of its employees.
In accordance with the terms of settlement, in which ICAP neither admitted nor denied the alleged rule violations, ICAP agreed to pay a monetary penalty of $50,000.
