ICE Futures U.S. says SG Americas, StoneX to pay for exchange rule violations
20/10/2021 01:21
Oct 19 (Reuters) - SG Americas Securities LLC, a subsidiary
of French bank Societe Generale SOGN.PA , and StoneX Limited
SNEX.O agreed to pay for settlement of charges following
alleged exchange rule violations, ICE Futures U.S. said on
Tuesday.
ICE determined that in January-February 2020, SG Americas,
and in February 2020, StoneX, may have violated an exchange rule
"by transferring positions between customer accounts with
different beneficial ownership without first obtaining Exchange
approval."
Commodity brokerage StoneX self-reported the activity to the
Exchange, according to ICE.
While both firms neither admitted nor denied the alleged
rule violations in trading cocoa futures, SGAS agreed to pay a
fine of $25,000, while StoneX will pay $12,500, ICE said in
separate disciplinary notices.
Societe Generale offers investment banking and brokerage
services in the United States through SG Americas Securities.
(Reporting by Swati Verma in Bengaluru; Editing by Lincoln
Feast)
((Swati.Verma@thomsonreuters.com; within U.S. +1 646 223 8780
, outside U.S. +9180 6182 2831/3590; Reuters Messaging:
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