Interactive Brokers gets a slap on the wrist for CME rule violation
Interactive Brokers LLC will have to pay a small fine due to violations of a CME rule concerning identification of Globex terminal operators.
CME Rule 576 states:
Each Globex terminal operator shall be identified to the Exchange, in the manner prescribed by the Exchange, and shall be subject to Exchange rules. If user IDs are required to be registered with the Exchange, it is the duty of the clearing member to ensure that registration is current and accurate at all times. Each individual must use a unique user ID to access Globex. In no event may a person enter an order or permit the entry of an order by an individual using a user ID other than the individual’s own unique user ID.
The Exchange has found that, during the period of October 1 through December 31, 2020, Interactive Brokers LLC violated Rule 576. The broker utilized an Operator ID which represented multiple users.
Interactive Brokers LLC, pursuant to Rule 512 (“Reporting Infractions”), was issued a $5,000 fine for its violation of Rule 576.
The notice is effective June 10, 2021.