STA Washington DC Meetings
STA has held several meetings recently with the SEC and Congressional Staff. Copies of STA Discussion Documents are below.
June 2019 Talking Points
SEC Rule 606, aka, “Order Handling Disclosure Rule”
As with any large scale industry project, regulatory guidance prior to implementation is often needed. As the Oct. 1, 2019 compliance date for data collection approaches, the industry seeks SEC guidance on a range of areas, including but not limited to, options calculations.
July 2019 Talking Points
SEC no-action letters under the Investment Advisers Act of 1940 on MiFID II
STA believes that a meaningful number of market participants anticipate the Commission granting an extension and/or expansion on the existing “no-action” relief. A decision to allow the relief to expire in July 2020 risks to be highly disruptive if firms are not provided adequate time to adjust to the regulatory regime.
STA letter to SEC on proliferation of strikes in options markets
In an April 5, 2019
to the SEC, STA relayed its view that the proliferation of series of options for quoting and trading has overly complicated the options markets and necessitated excessive (and thus inefficient) consummations of technology.