TP ICAP E&C Limited has agreed to pay a fine of $110,000 to settle ICE Futures US charges.
On July 12, 2023, a subcommittee of the Exchange’s Business Conduct Committee (BCC) determined that in several instances between August and October of 2021, TP ICAP E&C Limited (TPIEC), formerly known as Tullett Prebon Europe Limited, may have violated Rule 4.07(c) by misreporting the execution time and submitting trades beyond the 15- minute reporting window and Rule 6.08(b)(i) by failing to comply with order ticket requirements.
The BCC further determined that, during the Relevant Period, TPIEC may have additionally violated Rule 4.01(a) by failing to diligently supervise the block trade activity of its employees and Rule 4.01(b) by failing to establish, administer, and enforce supervisory systems, policies and procedures, which are reasonably designed to achieve compliance with Exchange Rules.
In accordance with the terms of settlement, in which TPIEC neither admitted nor denied the alleged rule violations, TPIEC agreed to pay a monetary penalty of $110,000.
