The Securities and Exchange Commission on Wednesday proposed tracking large blocks of trades by mutual funds, hedge funds, private equity firms and other large institutional investors. The SEC defines a large trader as those that trade $20 million or more in securities in a day, or 20 million shares or $200 million during any calendar month.

The reporting system would work by assigning a unique identification number to large traders that would be available to their broker/dealers, who in turn would report trading information to the SEC upon request as early as the morning of the first business day after a trade is made.

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