Sponsored Exchange Access

摘要

The Issue: The SEC has worked with the exchanges to standardize sponsored access, but the specifics currently vary from one exchange to another. Sponsored exchange access enables customers of exchange members to receive direct electronic access to the exchange using the members' identifiers. The customers' orders do not first go through the members' systems, resulting in the fastest possible trading.rnNasdaq has recently proposed amended rules around sponsored access to include direct market access and greater accountability for the sponsoring firm around reporting and compliance.