The Panel found that as a result of the foregoing, Perumalswamy violated CME Rule 534. In accordance with the settlement offer, the Panel ordered Perumalswamy to pay a $15,000 fine and to serve a 15-business-day trading suspension from access to any trading floor owned or controlled by CME Group and from direct and indirect access to any designated contract market, derivatives clearing organization or swap execution facility owned or controlled by CME Group. The suspension will run from trade date October 13, 2023 through, and including, trade date November 2, 2023.