The Business Conduct Committees of the New York Mercantile Exchange and the Commodity Exchange (respectively, the "NYMEX BCC Panel" and the "COMEX BCC Panel") sanctioned a firm and several traders for wash trades, disruptive trade practices and failure to comply with investigative procedures.

In separate disciplinary actions:

  • NYMEX BCC fined a trader $60,000 and permanently banned him for (i) spoofing trade orders and, (ii) when investigated for layering orders, refusing to provide the requested information;
  • NYMEX BCC permanently banned a firm for failing to provide requested information during an investigation into potential rule violations; and
  • COMEX and NYMEX fined (see here and here) a trader $40,000 and imposed a suspension for (i) prearranging the execution of transactions in the Gold Futures markets and (ii) using a user ID that was not his own when entering an order.

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