J.P. Morgan Securities LLC has agreed to pay a fine of $45,000 to settle with Cboe Futures Exchange, LLC (CFE).

From October 1, 2024 through October 20, 2025 (the “Review Period”), the firm did not include in its reported open interest any executed customer positions when those positions were allocated to a third-party clearing firm and were not yet claimed by the recipient clearing firm.

As a result, on 139 trade dates during the Review Period, the firm reported accurate open interest to The Options Clearing Corporation (OCC) in various Cboe Volatility Index (VX), Cboe iBoxx iShares $ Investment Grade Corporate Bond Index (BIG), and Cboe iBoxx iShares $ High Yield Corporate Bond Index (IBHY) futures contracts. These inaccurate reports caused CFE open interest to be misstated.

This conduct constitutes violations of CFE Rule 410A by the firm, in that the firm failed to report accurate open interest.

JP Morgan Securities does not have any prior relevant disciplinary history specifically related inaccurate open interest reporting.

In light of the alleged rule violations described above, the firm consented to the imposition of a monetary fine in the amount of $45,000.