ICE Futures U.S. Reaches $30,000 Settlement With Vantage Capital Markets for Rule Violations

ICE Futures U.S. has issued a disciplinary notice against Vantage Capital Markets LLP (VCM LLP) following findings of several rule violations in its block trade reporting and supervision practices.

A subcommittee of the Exchange’s Business Conduct Committee (BCC) determined that between May and October 2024, VCM LLP submitted block trades with incorrect execution times and failed to report them within the required 15‑minute window, breaching Exchange Rule 4.07(c). The BCC also found that the firm violated Exchange Rule 4.01(a) by failing to diligently supervise employee trading activities, and Exchange Rule 4.01(b) by not establishing, administering, and enforcing supervisory systems, policies, and procedures to ensure compliance.

The violations involved trades in MSCI India NTR Index and MSCI Emerging Markets Selection Index Futures.

Under the terms of settlement, VCM LLP neither admitted nor denied the allegations but agreed to pay a $30,000 monetary penalty.

ICE Futures U.S., a subsidiary of Intercontinental Exchange (ICE) and operator of the New York Stock Exchange, functions as a self‑regulatory organization (SRO). It is responsible for monitoring trading activity, investigating misconduct, and enforcing compliance with Exchange Rules.

Vantage Capital Markets LLP is an institutional brokerage firm serving asset managers, hedge funds, private equity firms, family offices, investment banks, and corporations, offering services across equities, credit, and derivatives.