NYSE Regulation has fined RBC Capital Markets Corp. for alleged trading violations.

An NYSE hearing officer found that on numerous occasions from Oct. 13, 2004, through May 20, 2005, RBC Capital Markets Corp., prior to the opening of trading, improperly entered on the NYSE through SuperDOT at least 44,000 proprietary odd-lot market orders that should have been aggregated, as far as possible, into round lots.

In addition, from Oct. 1, 2004, through May 13, 2005, the firm failed to report to the NYSE numerous trades that should have been reported on Daily Program Trade Reports and untimely submitted numerous other trades. The firm also failed to reasonably supervise and implement a separate system of follow-up and review with respect to its odd-lot trading activities and its submission of DPTRs, it said.

The NYSE imposed a penalty of a censure and US$125,000 fine. RBC consented to the penalty.