The New York Mercantile Exchange sanctioned Banco ABC Brasil S.A., a member firm, and its employee Marcelo Diniz for allegedly engaging in wash trades. Separately, NYMEX found that the firm failed to diligently supervise Mr. Diniz to ensure his compliance with relevant exchange rules. According to NYMEX, on February 16 and 23, 2018, Mr. Diniz placed orders in trading at settlement heating oil futures markets for multiple accounts owned and controlled by Banco ABC, knowing that his orders would execute opposite each other; he apparently did this to hedge risks associated with the accounts’ over-the-counter option positions. Banco ABC agreed to pay a fine of US $40,000 and Mr. Diniz a sanction of US $10,000 as well as a five-business day trading ban on all CME Group exchanges.