📈Rule Change on Sponsored Access Regulations by MEMX Exchange
Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 11.3 Regarding Sponsored Access
Summary
The SEC published a notice regarding MEMX LLC's proposed rule change to amend Exchange Rules 11.3, defining “Sponsored Access” and reinforcing the requirement for agreements between Sponsoring Members and Sponsored Participants to comply with the Market Access Rule (MAR). The amendment aims to clarify obligations and enhance regulatory compliance within the trading landscape.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change to amend Exchange Rules 11.3 regarding Sponsored Access creates specific compliance requirements for Sponsoring Members and Sponsored Participants, mandating contractual adherence to the Market Access Rule (MAR). This impacts businesses engaged in equity trading, ensuring clearer obligations and regulatory compliance, thus affecting operational practices and potential liabilities.