CME Group has issued a notice of summary action as to Goldman Sachs & Co LLC. The company has agreed to a fine to settle allegations about violating Exchange rules.

Pursuant to the results of a back office CTR audit, on December 2, 2020 through January 29, 2021, Goldman Sachs & Co. LLC was found to be in violation of CME rules. In particular, Goldman’s data entry errors for sequenced cards, verbal orders, and floor orders exceeded the 10% error level mandated by Rule 536.F.

Let’s note that, under the Exchange’s rules, the Market Regulation Department will conduct audits of clearing members in order to verify the accurate recording and submitting of required audit trail information.

Pursuant to the Rule 536.F sanction schedule, Goldman Sachs & Co. LLC was issued a $2,500 fine. The small size of the fine is partially explained by the fact that this is Goldman’s first violation of Rule 536.F. within 24 months.

The notice is effective May 21, 2021.