ICE Futures U.S. has posted a disciplinary notice against A.E. Bruggemann & Co.

On March 19, 2025, a subcommittee of the Exchange’s Business Conduct Committee determined that from February through June of 2023, A.E. Bruggemann & Co. may have violated Rules 4.02(c) and 4.07(b) when an employee brokered simultaneous and partially offsetting block trades (e.g., buy five lots and sell six lots) in the Fuel Oil Outright – USGC HSFO (Platts) Future contract to accommodate quantities below the minimum quantity requirement (MQR).

The Committee further determined that A.E. Bruggemann may have violated Rule 4.07(a)(ii)(A) by failing to comply with the private negotiation requirement for such block trades and 4.01(a) by failing to diligently supervise the block trade activities of its employees.

In accordance with the terms of settlement, in which A.E. Bruggemann neither admitted nor denied the alleged rule violations, A.E. Bruggemann agreed to pay a monetary penalty of $45,000.