Susquehanna Securities, LLC agreed to pay a $12,000 fine for alleged violations of Cboe Exchange rules.
During all relevant periods hereof and during or about December 2023, (the “Review Period”), the firm failed to report 24 trades executed on the floor within 90 seconds of execution.
These acts and practices constitute violations of Exchange Rule 6.1 by the firm, as the firm failed to timely report trades executed on the floor.
During the review period, the company failed to establish, maintain, and enforce written surveillance procedures (“WSP”) and a surveillance system reasonably designed to prevent and detect violations of applicable Exchange rules that require transactions to be reported on the Exchange within 90 seconds of execution in the form and manner prescribed by the Exchange. Specifically, the company did not have procedures and/or a review process in place to ensure compliance with Cboe Rule 6.1.
This conduct constitutes a violation of Exchange Rule 8.16 by the company because the company failed to establish, maintain, and enforce a WSP, and a system for implementing such procedures, reasonably designed to prevent and detect violations of the timely requirement. trade report defined in Exchange Rule 6.1.
In light of the alleged violations of the rules described above, the company consents to a censure and a $12,000 fine.