ICE Futures US has posted a notice of disciplinary action against Marex Markets Asia Pte. Ltd. (MMAPL), formerly known as Spectron Energy Asia Pte Ltd.

On December 4, 2025, a subcommittee of the Exchange’s Business Conduct Committee determined that in several instances from March 2024 through July 2024 (“Relevant Period”), Marex Markets Asia Pte. Ltd. (“MMAPL”) may have violated the following Exchange Rules for certain block trades:

• 4.07 (c) by submitting incorrect execution times and submitting trades beyond the 15-minute reporting window;
• 4.07(a)(ii)(A) by failing to meet the private negotiation requirement; 6.07(a)(iii) by failing to comply with general recordkeeping requirements; and
• 6.08(a)(i) by failing to comply with order ticket requirements.

The Committee further determined that, during the Relevant Period, MMAPL may have violated Rule 4.01(a) by failing to diligently supervise the block trade activities of its employees; and 4.01(b) by failing to establish, administer, and enforce supervisory systems, policies and procedures reasonably designed to achieve compliance with Exchange Rules.

In accordance with the terms of settlement, in which MMAPL neither admitted nor denied the alleged rule violations, Marex agreed to pay a monetary penalty of $225,000.

The effective date of the disciplinary notice is December 4, 2025.