ICE Futures U.S. has posted a disciplinary notice against Novum Energy Trading Corp.

On March 19, 2025, a subcommittee of the Exchange’s Business Conduct Committee (BCC) determined that from February through June of 2023, Novum Energy Trading Corp may have violated Rules 4.02(c) and 4.07(b) when one of its traders initiated the execution of 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.

The purpose of these transactions was to accommodate and execute block trades that were for a quantity below the minimum quantity requirement (MQR).

In accordance with the terms of settlement, in which Novum neither admitted nor denied the alleged rule violations, Novum agreed to pay a monetary penalty of $35,000.