XR Securities gets a slap on the wrist for alleged violations of Cboe rules
Cboe Exchange, Inc has posted a notice of disciplinary decision regarding XR Securities LLC.
The firm was a Market-Maker in S&P 500 (SPX) options during the Review Period.
From on or about October 29, 2025 through on or about November 12, 2025 (the “Review Period”), XR violated Exchange Rules by failing to meet its monthly continuous quoting obligations for a total of 11 trading days.
Specifically, on October 29, 30, and 31, and on November 3, 4, 5, 6, 7, 10, 11, and 12, the firm failed to provide continuous bids and offers in SPX options.
These acts constitute violations of Exchange Rule 5.52 by XR, in that the firm failed to meet its continuous quoting obligations as a Market-Maker in SPX options.
The firm does not have any prior relevant formal disciplinary history specifically related to its continuous quoting obligations.
In light of the alleged rule violations, the firm consented to the imposition of the following sanctions:
- A censure; and
- A monetary fine in the amount of $7,500.
