ICE imposes high-quality on TFS Derivatives for block commerce violations

ICE Futures U.S. has imposed a high-quality on TFS Derivatives Ltd for violating Alternate guidelines.

The related Alternate Rule states:

Rule 4.07(c) – Block Commerce Violations

The events to a Block Commerce shall trigger the transaction to be reported to the Alternate in accordance with such process as are decided by the Alternate sometimes. (Block Trades in MSCI Index Futures Contracts should be reported for posting inside quarter-hour from the time of execution; for Block at Index Shut (“BIC”) trades on MSCI merchandise, the requirement for posting is by 8:30am New York Time the next enterprise day.)”

The record of affected merchandise contains:

  • MSCI Rising Markets Index Futures
  • MSCI Japan NTR Index Futures

TFS Derivatives Ltd. was issued a abstract high-quality of $10,000 for violating Rule 4.07(c) by reporting Block Trades between March and September of 2022 after the Alternate’s required reporting time.