CFE Imposes Sanctions For Trade Violations

The CBOE Futures Exchange LLC ("CFE") Business Conduct Committee sanctioned two traders, in separate actions (see here and here), for trading rule violations.

According to the Offers of Settlement, the violations and penalty amounts were:

• $25,000, for failing to enter the required information for an Exchange of Contract for Related Position transaction into the CFE system - which is meant to initiate notification of a transaction - until after the reporting deadline; and
• $7,500, for failing to utilize the CFE's testing environment and test symbols, and for placing a fictitious test order that was unlikely to reach execution into the VX futures market.

Primary Sources