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期貨和衍生品行業(yè)監(jiān)管動(dòng)態(tài)
CMS 的客戶主要是旨在對(duì)沖風(fēng)險(xiǎn)的丙烷零售商。在典型的交易中，CMS 會(huì)
根據(jù)客戶的要求聯(lián)系兩到三個(gè)潛在對(duì)手方進(jìn)行報(bào)價(jià)。CMS 代表其客戶與對(duì)手方
進(jìn)行談判。如果客戶認(rèn)為報(bào)價(jià)可以接受，CMS 便代表客戶執(zhí)行互換合約或期權(quán)
交易。
CFTC Orders Texas Company to Pay $100,000 for Failing to Register as an
Introducing Broker (2024/8/12)
The Commodity Futures Trading Commission today issued an order
simultaneously filing and settling charges against Cost Management Solutions, LLC
(CMS), a Texas corporation. The order finds the respondent failed to register as an
Introducing Broker (IB) and requires CMS to pay a $100,000 civil monetary penalty.
The CFTC also orders CMS to cease and desist from further violating the CEA, as
charged.
Case Background
The order finds from at least May 2018 through the present, CMS acted as an
unregistered IB by soliciting and accepting orders for swap and options transactions
for its clients. CMS mainly brokered transactions in energy commodities, including
propane, heating oil, and crude oil. CMS’s IB activities included: identifying
counterparties; price discovery; negotiating trades; and trade execution. CMS did not
accept any money, securities, or property to margin, guarantee, or secure these
transactions. CMS received fees from its clients for its brokerage services.
CMS’ clients were primarily propane retailers interested in hedging risk. In a
typical transaction, at its client’s behest, CMS contacted two to three potential
counterparties for a quote. CMS negotiated on behalf of its client with the
counterparties. If the client determined the quote was acceptable, CMS then executed
the swap agreement or option transaction on behalf of the client.
https://www.cftc.gov/PressRoom/PressReleases/8941-24
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