Latour Trading LLC Statement re: SEC Settlement

NEW YORK, Sept. 30, 2015 /PRNewswire/ -- Today the SEC announced a settlement with Latour Trading LLC in which Latour consented to the entry of an order relating to Latour's failure to comply with certain regulatory obligations related to its use of intermarket sweep orders ("ISOs"). 

As described in the Commission's order, these issues arose predominantly from a software coding error that affected the systems that Latour used to route ISOs.  Latour also made a series of changes to its ISO routing logic that, under certain circumstances, caused it to send ISOs to the market that did not comply with the requirements of Regulation NMS. 

Latour fully remediated these issues by August 2014.  The Firm has also enhanced its systems and controls to detect and avert similar issues. 

The Firm is pleased to put this matter behind us.  We take our regulatory obligations seriously and are committed to complying with all rules and regulations applicable to our businesses.

SOURCE Latour Trading LLC