CASE NUMBER: 2016-092: SETTLEMENT OF CHARGES AGAINST CONDOR ALPHA ASSET MANAGEMENT
EXCHANGE RULE
Rule 6.20(b) - Position Limits, Conditional Limits and Position Accountability for Energy Contracts
No Person may exceed the position limits specified in the Position Limit Table for any Energy Contract unless an exemption has been granted by the Exchange in accordance with these Rules.
SUMMARY
A subcommittee of the Exchange’s Business Conduct Committee determined that, between July 2016 and August 2017, Condor Alpha Asset Management (“Condor Alpha”) may have violated Exchange Rule 6.20(b) in six (6) instances by holding positions in the Henry LD1 Fixed Price Future in excess of applicable spot month position limits during various expiration periods.
PRODUCT
Henry LD1 Fixed Price Future
PENALTY
In accordance with the terms of settlement, in which Condor Alpha neither admitted nor denied the rule violation, Condor Alpha paid a fine in the amount of $44,342.52, which included disgorgement of profits in the amount of $29,342.50, and agreed to cease and desist from future violations of Rule 6.20(b).
They got hit by the CME last year.
EXCHANGE RULE
Rule 6.20(b) - Position Limits, Conditional Limits and Position Accountability for Energy Contracts
No Person may exceed the position limits specified in the Position Limit Table for any Energy Contract unless an exemption has been granted by the Exchange in accordance with these Rules.
SUMMARY
A subcommittee of the Exchange’s Business Conduct Committee determined that, between July 2016 and August 2017, Condor Alpha Asset Management (“Condor Alpha”) may have violated Exchange Rule 6.20(b) in six (6) instances by holding positions in the Henry LD1 Fixed Price Future in excess of applicable spot month position limits during various expiration periods.
PRODUCT
Henry LD1 Fixed Price Future
PENALTY
In accordance with the terms of settlement, in which Condor Alpha neither admitted nor denied the rule violation, Condor Alpha paid a fine in the amount of $44,342.52, which included disgorgement of profits in the amount of $29,342.50, and agreed to cease and desist from future violations of Rule 6.20(b).
They got hit by the CME last year.
