The
If a firm or an individual meets the SEC’s definition, in trading today or hereafter, the firm has 10 days to file Form 13H, a Web form.
Rule 13h-1(a)(1) defines a large trader as:
Any person or organization that directly or indirectly controlsaggregate transactions in National Market System securities that are equal to or greater than: (1) during a calendar day, either two million shares or shares with a fair market value of $20 million; or (2) during a calendar month, either 20 million shares or shares with a fair market value of $200 million.
The scope of the term “large trader” is broad, encompassing individuals and entities, including non-U.S. entities, who engage in National Market System, notes the law firm of Kavanagh, Maloney & Osnato, in its
Once form 13H is filed, the SEC will send a large trader a “large trader identification number.’’ That number then must be provided to all of its U.S. registered broker-dealers and the large trader must identify for them each account to which the LTID applies.
Friday, the
Clearing organizations and clearing members must begin reporting under the new system today and the Division requires fully compliant month-end open interest reports to be collected beginning September 2011 through February 2012 and submitted to the Commission by March 20, 2012.
Here is a copy of
Here are the
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