Cboe Exchange, Inc. has issued a notice of disciplinary decision against Barclays Capital Inc.
From in or about July 2017 through the present, Barclays failed to record accurate order entry times for thousands of manual options orders it transmitted to third-party brokers for execution on Cboe and other options exchanges.
Barclays relied on the third-party brokers to input the time the brokers received each order as the order entry time in Barclays’ order management system; however, the order entry times inputted by the brokers often did not accurately reflect Barclays’ actual transmission times.
Based on a review of a sample of manual options orders, Barclays’ recorded order entry times failed to reflect the actual order transmission times for an estimated 126,432 options orders from July 2017 through…
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