Marex IPG Group to pay $45k fine for alleged NYMEX rule violations
International derivatives marketplace CME Group has posted a notice of disciplinary action against Marex IPG Group.
Pursuant to an offer of settlement, in which Marex IPG Group neither admitted nor denied the rule violation or factual findings upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee found that in January 2023, Marex submitted multiple block trades with inaccurate execution times and also failed to report multiple block trades to the Exchange within the required time period following execution in various RBOB, Natural Gas and Crude Oil futures contracts.
The Panel found that as a result of the foregoing, Marex violated NYMEX Rules 526 and 526.F.
In accordance with the settlement offer, the Panel ordered Marex to pay a $45,000 fine.