Citadel Securities, LLC v. Chicago Board Options Exchange, Inc.

FLAUM, Circuit Judge.

Plaintiffs Citadel Securities, LLC, et al., sued defendants Chicago Board Options Exchange, Inc., et al., in Illinois state court, seeking to recover fees they claim were improperly charged to and paid by plaintiffs to defendants under defendants’ “payment for order flow” programs. Defendants removed the case to federal district court. The district court dismissed the case for lack of subject matter jurisdiction based on plaintiffs’ failure to exhaust administrative remedies. Plaintiffs appeal the district court’s dismissal of the case as well as the denial of their…