U.S. – ICE Fines Investment Bank for Futures Position Limit Breach

U.S. – ICE Fines Investment Bank for Futures Position Limit Breach

On 8 June 2021, ICE FEU issued a fine for crude futures position limit breach

  • ICE FEU issued a summary enforcement disciplinary measure against Goldman Sachs for a breach of ICE FEU Exchange Rule P.3 on WTI crude futures position limits.

Alleged Violations

  • On 14 January 2021, Goldman held a long position of 3,450 lots in Feb-21 WTI crude futures, 450 lots above allowed position limit violating Rule P.3 on limits, exemptions.
  • Goldman had not received an exemption from the exchange to exceed the limit.

Enforcement

  • Goldman Sachs is ordered to pay a summary fine in the amount of £17,500.