Defendant Name: TMC Bonds, LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Intercontinental Exchange, Inc.
SIC Code: 6231
CUSIP: 45866F10

Initial Case Details

Legal Case Name In the Matter of TMC Bonds LLC
First Document Date 24-Sep-2019
Initial Filing Format Administrative Action
File Number 3-19501
Allegation Type Broker Dealer

Violations Alleged

Other
• Rules 301(b)(10), 301(b)(2) Regulation ATS

Resolutions

First Resolution Date 24-Sep-2019
Headline Total Penalty and Disgorgement $2,100,000

Related Documents:

34-87074 24-Sep-2019 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On September 24, 2019, the SEC instituted administrative and cease-and-desist proceedings against TMC Bonds LLC ("TMC"). The SEC stated: "Despite TMC’s representations regarding ATS subscriber anonymity, between at least January 2016 and June 2018 (the “relevant period”), personnel on TMC’s corporate bond desk, which facilitated corporate bond trading on the platform, disclosed to other ATS subscribers the identities of certain firms attempting to trade on the ATS, in hundreds of Bloomberg messages and chats."
2019-187 24-Sep-2019 Press Release--Administrative Proceeding
SEC Charges TMC Bonds With Failing to Protect Confidential Subscriber Information
The SEC stated that: "TMC Bonds LLC, operator of an alternative trading system (ATS) for fixed income securities, has agreed to pay $2.1 million to settle charges arising from TMC Bonds’ failure to protect confidential subscriber information."