United States CFTC Fines Nasdaq Futures $22 Million for Failure to Disclose Traders Incentive Program Including to Designated Market Marker on Energy Commodity Futures Contracts & Providing False & Misleading Information on Incentive Program to CFTC
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more
2024 / 2025 Summits in Hong Kong & Singapore
Institutional Investor Summit / Roundtable - March / Oct / Nov
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register
This site is for accredited investors, professional investors, investment managers and financial professionals only.
You should have assets around $3 million to $300 million or managing $20 million to $30 billion.
United States CFTC Fines Nasdaq Futures $22 Million for Failure to Disclose Traders Incentive Program Including to Designated Market Marker on Energy Commodity Futures Contracts & Providing False & Misleading Information on Incentive Program to CFTC
5th September 2024 | Hong Kong
The United States Commodity Futures Trading Commission has finedNasdaq Futures$22 million for failure to disclose traders incentive program including to designated market marker on energy commodity futures contracts and providing false & misleading information on incentive program to the CFTC.CFTC (29/8/24): “The Commodity Futures Trading Commission today issued an order filing and settling charges against Nasdaq Futures, Inc., formerly a designated contract market (DCM). The order finds Nasdaq Futures, Inc. failed to properly establish, monitor, or enforce rules related to an incentive program Nasdaq Futures, Inc. offered to certain traders on its DCM. The order also finds Nasdaq Futures, Inc. did not fully disclose this incentive program’s details to the CFTC or the public consistent with the requirements of the Commodity Exchange Act (CEA) and Commission Regulations. In addition, the order finds Nasdaq Futures, Inc. made false and misleading statements to the CFTC regarding the incentive program. The order requires Nasdaq Futures, Inc. to pay a $22 million civil monetary penalty.Case Background – The order finds from July 2015 through July 2018, Nasdaq Futures, Inc. operated as a DCM focused on energy commodity futures contracts. Nasdaq Futures, Inc. offered various incentive programs to certain traders on its contract market, including its “Designated Market Maker” (DMM) program. The DMM program, as disclosed to the CFTC and the public, paid a fixed monthly stipend to market makers. However, Nasdaq Futures, Inc. also made payments to a select number of DMM program participants that were based on the total volume of contracts those participants traded; this volume-based component was not disclosed to the CFTC, as required by the CEA and associated regulations. In fact, Nasdaq Futures, Inc.’s rule submissions to the CFTC regarding its incentive programs omitted or explicitly denied the existence of a volume-based incentive as part of the DMM program. In addition, when interviewed by CFTC staff about whether Nasdaq Futures, Inc. paid DMM program participants for trade volume, its employees repeatedly stated there was no volume-based component to the DMM program. Nasdaq Futures, Inc. reasonably should have known all such denials, statements, and omissions were false and misleading at the time. Further, Nasdaq Futures, Inc.’s failure to disclose this volume-based component of the DMM program to the CFTC, the public, its own compliance staff, and regulatory service provider led to the violation of several DCM Core Principles mandated in the CEA. Finally, Nasdaq Futures, Inc. did not follow its regulatory service provider’s recommendation to contact three DMM program participants about certain trading activity or document why it did not, in violation of a CFTC Regulation. The CFTC appreciates the assistance of the National Futures Association.”
“ United States CFTC Fines Nasdaq Futures $22 Million for Failure to Disclose Traders Incentive Program Including to Designated Market Marker on Energy Commodity Futures Contracts & Providing False & Misleading Information on Incentive Program to CFTC “
The 2024 Investment Day
17th Oct Hong Kong | 7th Nov Singapore
Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place on 17th Oct 2024 in Hong Kong, 7th Nov 2024 in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here
The 2024 Family Office Summit17th Oct Hong Kong St Regis | 7th Nov Singapore Amara Sanctuary Resort
Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here
2024/2025 Institutional Investor Summit / Roundtable
March / Oct / Nov in Hong Kong & Singapore
Join CEOs, CIOs, Senior investment team from Sovereign Wealth Funds, Pension Funds, Endowments, Foundations & Charities in Hong Kong, Singapore & Asia-Pacific at the 2024 Institutional Investor Summit / Roundtable. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
2024/2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore
Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
2024/2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore
Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
CFTC Director of Enforcement Ian McGinley: “The CFTC’s oversight regime depends upon CFTC-designated exchanges providing the CFTC and market participants accurate information. Nasdaq Futures, Inc.’s conduct here represents significant violations of both its duty to provide such information and several statutory Core Principles applicable to CFTC-designated exchanges.”
United States CFTC Fines Nasdaq Futures $22 Million for Failure to Disclose Traders Incentive Program Including to Designated Market Marker on Energy Commodity Futures Contracts & Providing False & Misleading Information on Incentive Program to CFTC
United States
Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.
Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. List hard-to-find financial & private wealth services.
Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?
Managing $20 million to $30 billion assets The leading financial platform covering capital market, investments, private wealth & family office in Asia. For top investment professionals, advisors, investors, business leaders. Join 11,000+ top investment professionals, institutional investors, professional investors & advisors. Our users typically manage $20 million to $30 billion of assets, invest $3 million to $300 million, or advise institutions, billionaires, UHNWs & HNWs.
Caproasia.com | Newsletter Daily 2 pm | Caproasia Access | The Financial Centre | Family Office Circle | Family Office Summit | Investment Day | Investment, Risk & Wealth Intelligence | Latest News | Reports | Insights | Subscription | Membership & more
” Intelligence at your fingertips. Find useful info & services. Time lost is never found. Take advantage of big investment opportunities. Avoid fraud, fines, & jail. Manage your risks. “
2024 Upcoming Events
> The 2024 Family Office Summit Hong Kong (St Regis) – 17th Oct
> The 2024 Family Office Summit Singapore (Amara Sanctuary Resort) – 7th Nov
> The 2024 Investment Day Hong Kong – 17th Oct
> The 2024 Investment Day Singapore – 7th Nov
Join The 2024 Family Office Summit in Hong Kong on 17th Oct at St Regis or Singapore 7th Nov at Amara Sanctuary Resort (9 to 345 pm).Join 5 billionaire family offices, and 60% of family offices with more than $300 million AUM. Limited complimentary passes available for SFOs & pure MFOs. Links:2024 Family Office Summit | Register here
2024/2025 Summits Hong Kong & Singapore
> The Investment / Alternatives Summit – March / Oct
> The Institutional Investor Summit & Roundtable – March / Oct
> The Family Office Summit – April / Oct / Nov
> The Private Wealth Summit – March / Oct
2024 June / July Report Release:
> Asset Management Report 2024
> Family Office Report 2024
> UHNW Wealth Report 2024
> Top 50 Southeast Asia Companies Report 2024
> China & Hong Kong IPO Report 2024
> Hong Kong SFC Financial Industry Report 2024
> Private Capital / Equity Fund Managers IRR & Bonuses Report 2024
> Sports Report 2024
