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CBOE Tightens Trader Rules

Chicago Board Options Exchange will require traders to provide written descriptions of oversight practices, regular office inspections, and annual reporting.

By Sam Mamudi, Bloomberg | Updated on March 05, 2014

Nine months after regulators fined the Chicago Board Options Exchange (CBOE) for failing to police its members, the biggest U.S. options market approved a rule aimed at preventing fraud.

Firms trading at the unit of CBOE Holdings Inc. will be required to write down how they supervise their businesses, according to a Securities and Exchange Commission (SEC) filing from the Chicago-based options exchange. They must also carry out regular office inspections and send CBOE an annual report on regulatory practices.

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