Oct 19 (Reuters) – SG Americas Securities LLC, a subsidiary of French bank Societe Generale, and StoneX Limited agreed to pay 45 long colt ammo for sale 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)
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