6 Aug 2025
📈Proposed Rule Change on Sponsored Access and Compliance Requirements
Self-Regulatory Organizations; MX2 LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Rule 11.3 Regarding Sponsored Access
Summary
The SEC is reviewing a proposed rule change by MX2 LLC to amend its rules regarding Sponsored Access. The changes aim to define Sponsored Access clearly and codify compliance obligations under SEC's Market Access Rule, ensuring clarity for Sponsoring Members and Sponsored Participants in market access relationships. This aims to promote clarity and regulatory compliance in trading operations.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The regulation proposes amendments that require Sponsored Participants to contractually agree to follow the SEC's Market Access Rule, impacting members and their compliance obligations. It clarifies market access definitions, which is essential for compliance and operational adjustments.