Case Summary

SOMITEKNO LTD NYME 13-9462-BC SOMITEKNO LTD. NFA ID: 0476759

 Respondent/Effective Date Summary 
 NFA IDRespondentEffective Date
 0476759SOMITEKNO LTD05/01/2014
 Rule Summary 
 NFA IDRespondentRule Type
 0476759SOMITEKNO LTD• 538.H - Exchange for Related Positions - Documentation
 Committee Summary 
 NFA IDRespondentCommittee
 0476759SOMITEKNO LTD• BUSINESS CONDUCT COMMITTEE
 Action Summary 
 NFA IDRespondentAction Types
 0476759SOMITEKNO LTD• TRADE PRACTICE
 Penalty/Event Summary 
 NFA IDRespondentPenalty/EventEvent Date
 0476759SOMITEKNO LTD• FINE PAID $1500005/14/2014
 Narrative Summary 
Narrative for 0476759 - SOMITEKNO LTD
Pursuant to an offer of settlement Somitekno Ltd. (“Somitekno”) presented at a hearing on April 29, 2014, in which Somitekno neither admitted nor denied the rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“Panel”) found it has jurisdiction over Somitekno pursuant to NYMEX Rules 400 and 418 and that, on May 28, 2013, Somitekno entered into an EFRP transaction which did not contain documentation of the related swap transaction and, therefore, was not a bona fide EFRP transaction.

The Panel found that as a result, Somitekno violated Rule 538.H.

In accordance with the settlement offer, the Panel ordered Somitekno to pay a fine to the Exchange in the amount of $15,000.

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