Cantor Fitzgerald & Co. resolved a disciplinary action brought by NYSE Regulation for purportedly not having adequate controls and supervisory systems to prevent two large orders—one in August 2014 and one in February 2017—from unintentionally being entered into the marketplace and disrupting it. In one case a trader received a large customer order with instructions to work it as a “market not-held” order, but inadvertently entered the transaction into the firm’s order management system as one market order—not breaking it into smaller orders. In the other circumstance, the trader received a large market not-held order from an affiliate, properly worked part of the order, tried to work another portion, but inadvertently entered the remainder of the large order into the firm’s OMS with a wrong setting. As a result, the remainder of the larger order was handled as a single market order and not broken into smaller orders. NYSE claimed that Cantor failed “consistently [to] employ maximum share threshold controls” to create alerts or block trades in excess of a specified number of shares or used controls that were too large to be effective. NYSE claimed that Cantor violated the Securities and Exchange Commission’s Market Access Rule through its conduct (click here to access a summary of SEC Rule 15c3-5). Cantor agreed to pay US $155,000 to resolve NYSE’s complaint.