Search Results for keywords:"alternative trading systems"

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Search Results: keywords:"alternative trading systems"

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  • 2025-01965 — Submission for OMB Review; Comment Request; Extension: Rule 303 of Regulation ATS
    Type:Notice
    Citation:90 FR 8544
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) is seeking approval from the Office of Management and Budget (OMB) to extend an existing requirement for record-keeping under Rule 303 of Regulation ATS, which governs alternative trading systems (ATSs). Regulation ATS requires ATSs that register as broker-dealers to maintain certain records to ensure regulatory compliance. These records help regulatory bodies monitor ATSs and promote fair and orderly markets. The SEC estimates that ATSs will spend an average of 1,607 hours annually maintaining these records. The public can comment on this request by emailing or visiting a provided website by March 3, 2025.

    Simple Explanation

    The SEC wants to keep checking on special places where people buy and sell stocks, called ATSs, to make sure everything is fair. They want ATSs to spend some time each year keeping papers and information organized, and they're asking people to share their thoughts about this plan by March 3, 2025.

  • 2024-28897 — Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule Change To Amend NYSE Rule 7.31(f)(1)
    Type:Notice
    Citation:89 FR 99320
    Reading Time:about 12 minutes

    The Securities and Exchange Commission has approved a proposed rule change by the New York Stock Exchange (NYSE) to amend NYSE Rule 7.31(f)(1). This change will allow Directed Orders, which are specific types of trades, to be routed to broker-dealer algorithms instead of just to alternative trading systems (ATS). This update is intended to give member organizations more flexibility and choice in how they route orders, potentially improving operational efficiency. The NYSE will not control the selection of the algorithm, and will not have visibility into how or where an order is executed by the algorithm.

    Simple Explanation

    The agency in charge of keeping stock markets fair has approved a change in the rules to let certain trades be handled by smart programs chosen by the people making the trades. This might make trading smoother, but there's not much information on how safe and fair it will be when these smart programs do the work.

  • 2024-28122 — Proposed Collection; Comment Request; Extension: Rule 304 of Regulation ATS
    Type:Notice
    Citation:89 FR 95256
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) is seeking public comments on the collection of information required by Rule 304 of Regulation ATS. This rule pertains to alternative trading systems and requires them to submit Form ATS-N, providing details about their operations to increase transparency and reduce conflicts of interest. The SEC estimates it takes about 1,901 hours a year for entities to comply with these requirements. Comments on the usefulness and burden of the information collection are invited until January 31, 2025.

    Simple Explanation

    The SEC wants to hear what people think about a rule that asks certain trading places, called alternative trading systems, to fill out a form providing important information about how they work. This rule helps make sure everything is clear and fair, but filling out the form takes a lot of time, so they want to know if it's worth it.

  • 2025-03022 — Submission for OMB Review; Comment Request; Extension: Rule 304 of Regulation ATS
    Type:Notice
    Citation:90 FR 10663
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to extend the information collection requirements under Rule 304 of Regulation ATS and Form ATS-N. These requirements are part of the regulatory framework for alternative trading systems, aiming to enhance transparency and competition in trading markets. The SEC estimates that entities will spend approximately 1,901 hours annually to meet these obligations. Public comments on this request can be submitted by March 28, 2025, and further information can be viewed or requested from the SEC's Office of FOIA Services.

    Simple Explanation

    The SEC wants permission to keep rules that make trading places, like stock exchanges, share some important info to make sure everything is clear and fair. They think these places will need almost 1,901 hours each year to do this, and people can share their thoughts about it until March 28, 2025.