Case Summary

DE SHAW & CO LP NYME 13-9632-BC D.E. SHAW AND CO. LP NFA ID: 0245715

 Respondent/Effective Date Summary 
 NFA IDRespondentEffective Date
 0245715DE SHAW & CO LP05/01/2014
 Rule Summary 
 NFA IDRespondentRule Type
 0245715DE SHAW & CO LP• 562 - POSITION LIMIT VIOLATIONS
 Committee Summary 
 NFA IDRespondentCommittee
 0245715DE SHAW & CO LP• BUSINESS CONDUCT COMMITTEE
 Action Summary 
 NFA IDRespondentAction Types
 0245715DE SHAW & CO LP• SPECULATIVE POSITION LIMIT
 Penalty/Event Summary 
 NFA IDRespondentPenalty/EventEvent Date
 0245715DE SHAW & CO LP• FINE PAID $7500005/07/2014
 Narrative Summary 
Narrative for 0245715 - DE SHAW & CO LP
Pursuant to an offer of settlement D. E. Shaw & Co., L.P. (“D. E. Shaw & Co.”) presented at a hearing on April 29, 2014, in which D. E. Shaw & Co. neither admitted nor denied the rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“BCC”) found that it had jurisdiction over D. E. Shaw & Co. pursuant to Exchange Rules 400 and 402, as D. E. Shaw & Co. is an affiliate of NYMEX member D. E. Shaw Plasma Portfolios, L.L.C. (“D. E. Shaw Plasma”), and that on October 25, 2013, D. E. Shaw Plasma, one of the funds to which D. E. Shaw & Co. and certain affiliates provided investment management services, held a long position of 1,807.50 November 2013 Henry Hub Natural Gas Look-Alike Financial Futures contracts (“NOV13 Financial”), which was 807.5 contracts (80.75%) over the 1,000-lot standard position limit in effect for trade dates October 25, 28, and 29, 2013.

The Panel found that, as a result, D. E. Shaw & Co. violated NYMEX Rule 562 (Position Limit Violations).

In accordance with the settlement offer, the Panel ordered D. E. Shaw & Co. to pay a fine to the Exchange in the amount of $75,000.

This action became final on April 29, 2014 and effective May 1, 2014.