# EDGAR Filing Document

**Accession Number:** 0001436581
**File Stem:** 0001436581-25-000004
**Filing Date:** 2025-9
**Character Count:** 8320
**Document Hash:** 7f4a2971ff1c76716395f7e04a659d9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001436581-25-000004.hdr.sgml**: 20250917

**ACCESSION NUMBER**: 0001436581-25-000004

**CONFORMED SUBMISSION TYPE**: SBSE-A/A

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20250916

**DATE AS OF CHANGE**: 20250917

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ING Capital Markets LLC
- **CENTRAL INDEX KEY:** 0001436581

**ORGANIZATION NAME:**
- **EIN:** 134038437
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SBSE-A/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 026-00166
- **FILM NUMBER:** 251318981

**BUSINESS ADDRESS:**
- **STREET 1:** 1133 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 6464246000

**MAIL ADDRESS:**
- **STREET 1:** 1133 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

### Attached PDF Documents

**Attachment 1:** `form7Rinitial.pdf`

_No text found in this document._

**Attachment 2:** `summaryofchange.pdf`

_No text found in this document._

**Attachment 3:** `form7latest091625.pdf`

_No text found in this document._

## Form SBSE-A: Registration for Security-Based Swap Dealers

### Applicant Information

**Full Applicant Name:** ING Capital Markets LLC

**NFA Number:** 438800

**IRS Employer ID No.:** 13-4038437

**CIK:** 0001436581

**Main Address:** 1133 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036

**Mailing Address:** 1133 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036

**Business Telephone:** 6464246000

**Contact Employee:**

- **Name:** John McCarthy

- **Title:** Chief Compliance Officer

- **Phone:** 646-424-6785

- **Email:** john.mccarthycompliance@ing.com

**Chief Compliance Officer:**

- **Name:** John McCarthy

- **Title:** Chief Compliance Officer

- **Phone:** 646-424-6785

- **Email:** john.mccarthycompliance@ing.com

### Business and Activities

**Registered as Swap Dealer?:** Yes

**Registered as Swap Participant?:** No

**Uses Mathematical Models?:** Yes

**Is a Non-Resident Entity?:** No

**Subject to Prudential Regulator?:** No

**Is an Investment Advisor?:** No

**Engaged in Other Business?:** Yes

**Holds Customer Funds?:** Yes

**Description of Business:**
ING Capital Markets LLC offers a broad variety of derivative products including total return equity swaps. The total return equity swaps meet the definition of Security Based Swaps and are the primary product requiring registration with the SEC as a Security Based Swap Dealer. This business is run by the Linear Equity Derivatives (LED) desk. This is a customer based business that is comprised of total return swaps and synthetic forwards (put-call combinations). They are typically traded over-the-counter. The underlying asset can be a single stock, a basket of stocks, or an equity index. The product, at a basic level, enables the client to gain long or short exposure to the underlying asset which offers many advantages to trading in the physical securities. The applicant also conducts sales and trading activity in FX, IRD, and Commodities derivatives pursuant to its registration as a Swap Dealer.

### Control and History

**Are records kept by another entity?:** Yes

**Does another entity hold funds on behalf of applicant?:** Yes

**Is control exercised through an agreement?:** Yes

**Is applicant financed by another entity?:** Yes

**Is applicant succeeding a prior entity?:** No

**Subject to foreign regulation?:** No

**Number of Principals:** 20

### Schedule A: Principals

| Name                     | Title or Status             | Date Acquired   | Date Began Working   | Ownership         |   NFA ID No. |
|:---|:---|:---|:---|:---|---:|
| Christine Ginfrida       | Managing Director           | 04/2020         | 09/2013              |  |       505299 |
| Rogerio Iuamoto          | Managing Director           | 04/2019         | 08/2005              |  |       514483 |
| William Clymer James     | Managing Director           | 04/2003         | 07/1993              |  |       490087 |
| John McCarthy            | CCO                         | 04/2007         | 12/1999              |  |       452766 |
| Katharyn Meyer           | CEO                         | 12/2022         | 04/2017              |  |       362954 |
| Mark Tornij              | CRO                         | 10/2020         | 10/2020              |  |       536101 |
| Cefas Van Den Tol        | Managing Director           | 06/2018         | 06/2018              |  |       519213 |
| Petrus Van Gaal          | Managing Director           | 04/2014         | 06/2003              |  |       452870 |
| Tyrel Tugade             | MD                          | 04/2023         | 11/2021              | NA - less than 5% |       555485 |
| Andrew David Schaeffer   | Board Member                | 07/2023         | 02/2023              | NA - less than 5% |       502526 |
| Matthew Lawrence Rosetti | Managing Director           | 07/2023         | 08/2015              | NA - less than 5% |       557604 |
| Darren Cicchillo         | COO                         | 10/2023         | 07/2007              |  |       559696 |
| Johannes Derk Wolvius    | Board Member                | 08/2023         | 12/2018              |  |       559776 |
| Michael Robert Kendrot   | Managing Director           | 11/2023         | 09/2023              | NA - less than 5% |       559583 |
| Tarryn Pournara          | Head of a business function | 06/2024         | 08/2023              |  |       564551 |
| Keith Tamayo             | Managing Director           | 07/2024         | 12/2023              |  |       564549 |
| Linda Benetreu           | Director                    | 08/2024         | 08/2024              | NA - less than 5% |       566394 |
| Denys Dlaboha            | Director                    | 12/2024         | 12/2024              |  |       502117 |
| Robyn Elizabeth Zivic    | Managing Director           | 06/2025         | 06/2025              |  |       395730 |
| TINA ELEANOR FARINGTON   | CHIEF FINANCIAL OFFICER     | 09/2025         | 06/2025              | NA - less than 5% |       572423 |

### Schedule B: Explanations

**Description:**
ING Capital Markets LLC engages in interest rate, commodity, foreign exchange, credit default and equity swaps. ING Capital Markets LLC also engages in futures for hedging purposes, however, this business is not client facing.

**Records Keeper:**

- **Name:** KPMG LLC

  - **Address:** 345 Park Avenue, New York, NY, 10154

  - **Effective Date:** 10-06-2021

  - **Arrangement:** KPMG LLC will audit ING Capital Markets LLC financial statements annually. The audited financial statements will be filed with the CFTC.

**Onbehalf:**

- **Name:** Wells Fargo Securities, LLC

  - **Address:** 500 South Tryon, Charlotte, NC, 28202

  - **Effective Date:** 12-06-2011

  - **Arrangement:** Execution and Clearing Services for Futures

- **Name:** Goldman Sachs & Co.

  - **Address:** 200 West Street, New York, NY, 10282

  - **Effective Date:** 11-06-2012

  - **Arrangement:** Execution and Clearing for Options

- **Name:** Bank of New York

  - **Address:** 240 Greenwich Street, New York, NY, 10286

  - **Effective Date:** 09-01-2017

  - **Arrangement:** Custodian for segregated margin

- **Name:** ING Financial Markets LLC

  - **Address:** 1133 Avenue of the Americas, New York, NY, 10036

  - **Effective Date:** 05-06-2009

  - **Arrangement:** Execution and custodian for equities

**Controlling Entity:**

- **Name:** ING Financial Holdings Corporation

  - **Address:** 1133 Avenue of the Americas, New York, NY, 10036

  - **Effective Date:** 12-17-1998

  - **Arrangement:** 100% Parent of ING Capital Markets LLC

- **Name:** ING Bank N.V.

  - **Address:** Bijlmerdreef 106, Amsterdam, P7, 1102 CT

  - **Effective Date:** 12-17-1998

  - **Arrangement:** 100% Parent of ING Financial Holdings Corporation

- **Name:** ING Groep N.V.

  - **Address:** Bijlmerdreef 106, Amsterdam, P7, 1102 CT

  - **Effective Date:** 12-17-1998

  - **Arrangement:** 100% Parent of ING Bank N.V. ING Groep N.V. is a public issuer

### Execution

**Date:** 09-16-2025

**Name of Applicant:** ING Capital Markets LLC

**Signature:** John McCarthy

**Printed Name:** John McCarthy

**Title:** Chief Compliance Officer