CME Group – the world’s leading derivatives exchange has just announced its decision to sanction individual Mohamed Abdelaziz Ali Abdelaziz, after discovering violations related to trading regulations on the NYMEX market.
Abdelaziz violates NYMEX rules: Prearranged Brent crude circular trading
According to a report from the Business Conduct Committee of the New York Mercantile Exchange (NYMEX), a case involving trader Mohamed Abdelaziz Ali Abdelaziz – representing a Saudi Arabia-based proprietary trading firm – has been reviewed and concluded.
Although Abdelaziz neither admitted nor denied any wrongdoing, the panel determined that between April 17 and 19, 2024, he conducted a series of alleged “circular” trades on the Brent Last Day Financial crude oil futures contract, expiring in April and May 2025.
These transactions were made between Abdelaziz’s personal account and the account of the company where he worked. NYMEX concluded that the purpose of the above transactions was to transfer profits or equity from the business account to the personal account. This behavior is considered a violation of the principle of transparency in derivatives trading, and at the same time raises concerns about abuse of power in the internal trading environment.
CME Group disciplinary panel suspends Abdelaziz for one year after $40,000 fine
The investigation board said Abdelaziz used an operator ID that was not his own to execute orders, violating the transparency requirements of the exchange. After review, the agency determined that he violated NYMEX Rules 432.G and 576. As a result, Abdelaziz was ordered to pay a fine of $40,000 and repay an additional $2,620 as part of the final settlement.
In addition to the fine, the Disciplinary Board also suspended Abdelaziz for a period of one year, during which time he will be completely banned from having direct or indirect access to any exchange, derivatives clearing organization or swap trading platform owned or controlled by CME Group.
The ban is effective from October 16, 2025 and will only be lifted after Abdelaziz completes his obligation to pay the fine and restitution as prescribed by the council.
About CME Group
Founded in 2007, CME Group is a leading financial group in the world, owning and operating many large exchanges such as Chicago Mercantile Exchange and Chicago Board of Trade (CBOT). The group plays a central role in the global derivatives trading field, providing futures and options products related to interest rates, stock indexes, energy, foreign exchange and agricultural commodities. In addition, CME Group also provides a secure clearing system for customers internationally.
CME Group operates a modern risk management system, applying high technology and advanced data analysis tools to monitor all activities in the market. The group’s Risk Management Department regularly monitors important factors such as transaction flow, price movements, volume and volatility to detect potential risks early. As a result, CME Group can ensure the stability, transparency and safety of the global derivatives trading system it operates.
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