Santander US Capital Markets to pay $50k fine for alleged NYMEX rule violations

CME Group has posted a notice of disciplinary action against Santander US Capital Markets LLC.

A Panel of the New York Mercantile Exchange Inc (NYMEX) Business Conduct Committee found that Santander's July 31, 2025, Statement of Segregation Requirements and Funds in Segregation omitted interest payable to customers and commissions receivable from customers that were recorded on customer account statements.

Additionally, these interest and commission related balances for both customers and non-customers were improperly reflected on the balance sheet.

The Panel concluded that Santander thereby violated NYMEX Rules 970.A.4. and 971.A.2.a.

In accordance with the settlement offer, the Panel ordered Santander to pay a fine of $50,000.

Santander neither admitted nor denied the rule violations or factual findings upon which the penalty is based.

The effective date of the notice is August 27, 2026.