SEC Large Trader Reporting Regulation - Comment Letter - GETCO - June 28, 2010
|Effective Date||Compliance Date, "Sponsored Access"||Compliance Date, Other Bkr-Dlrs|
|October 3, 2011||November 30, 2012||May 1, 2013|
Large Trader Reporting System
June 28, 2010
In the comment letter, GETCO recommends that the SEC:
- clarify the monitoring obligations of market centers;
- go further with the assignment of unique large trader identification numbers (LTIDs) and also require the use of unique market participant identification numbers (MPIDs);
- coordinate with other regulators in using the electronic blue sheet (EBS) system to obtain market information.
"As a market participant who would meet the identifying activity level thresholds and thus be considered a large trader under the new rule, GETCO fully supports the Proposal. As noted above, the EBS system is insufficient in today's trading environment. Thus, GETCO agrees that regulators need additional leve1s of transparency into the trading practices of all firms with significant activity."