Credit Suisse gets a slap on the wrist for violating ICE Futures rules

ICE Futures today published a notice of summary fine issued to Credit Suisse Securities (Europe) Ltd. The fine stems from Credit Suisse’s violations of Exchange Rule 4.15(a).

In relevant part, the rule says:

“Each individual Person with Direct Access, employee of a Clearing Member or of a Person with Direct Access, automated trading system and Customer that connects to the ETS by Order Routing must have a unique identification assigned to them in accordance with the procedure adopted by the Exchange from time to time in order to utilize ETS. Each Person or automated trading system assigned a unique identification shall be referred to as a “Registered Operator.”

The unique identification assigned to a Registered Operator may not be reassigned to another Registered Operator”.

Credit Suisse Securities (Europe) Ltd. was issued a summary fine in the amount of $2,000 for violating Rule 4.15(a) by failing to properly assign each Automated Trading System a unique identification for the purpose of routing orders automatically to the ETS.

The violations affected MSCI Emerging Markets Index futures and MSCI EAFE Index Futures.

The effective date of the notice is August 19, 2021.

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