CME Group Issues Disciplinary Action against FCM

CME Group Exchanges announced a disciplinary action against Citadel Securities LLC involving a violation of CME Rule 432 ("General Offenses").

CME Group found that during a one-minute period on June 3, 2103, Citadel entered a series of unintentional orders on the Globex electronic trading platform ("Exchange"). The orders were caused by a software malfunction in a server used by Citadel to route orders to the Exchange.

CME Group found that, as a result of the malfunction, Citadel re-sent orders to the Exchange that had been filled previously, which in turn caused an atypical short-term increase in trading volume and impacted the price in the E-mini S&P Futures market.

CME Group Exchanges ordered Citadel to pay a $70,000 fine.

See: CME Group Press Release.