Search Results for keywords:"Market Participant Identifier"

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Search Results: keywords:"Market Participant Identifier"

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  • 2021-01836 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish a Monthly Fee Assessed on Members' MPIDs
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    Type:Notice
    Citation:86 FR 7440
    Reading Time:about 14 minutes

    The Cboe EDGX Exchange, Inc. proposed a new rule to implement a monthly fee for members using more than one Market Participant Identifier (MPID) starting after their first free MPID. The fee is set at $350 per additional MPID and aims to encourage efficient use of MPIDs by its members. This measure comes in a competitive trading market where participants can choose different platforms if they find fees too high. The Securities and Exchange Commission is reviewing this proposal and is accepting public comments.

    Simple Explanation

    The Cboe EDGX Exchange wants to charge a monthly fee of $350 if members use more than one special code (like a nickname) when trading, to make sure they use these codes wisely. The government is checking if this is a fair rule and asking people what they think.

  • 2021-01584 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish a Monthly Fee Assessed on Members' MPIDs
    💰
    Type:Notice
    Citation:86 FR 7127
    Reading Time:about 15 minutes

    Cboe BZX Exchange, Inc. has proposed a new rule to amend its fee schedule by introducing a monthly fee of $350 for each additional Market Participant Identifier (MPID) a member uses, while the first MPID remains free. This change aims to align fees with the benefits received by members using multiple MPIDs and is designed to promote efficient use of these identifiers. The proposal emphasizes competition among exchanges and states that many options are available for trading, meaning the fee is not overly burdensome. The Securities and Exchange Commission is soliciting public comments on this proposed rule change.

    Simple Explanation

    The Cboe BZX Exchange wants to charge $350 each month for extra "name tags" businesses use to trade, after giving them the first one for free. They believe this will make trading better, but some people think they should better explain why this fee is fair and how it helps everyone.