Communication Protocol Systems News Today

Conscientious faithful words grate upon the ear. In an effort not to be lost in the ocean of comment letters to the SEC, we at Data Boiler want our views to be heard. In this article we use analogies to promote communication and understanding of the complex subject of market structure reform. Please do not block us from shedding light on taboo topics. Constructive debate helps avoid the phenomena of “blind people and an elephant”.

By Kelvin To, Founder and President of Data Boiler Technologies.

<p><span>In the EU, Capital Markets Union (CMU) set to ban payment for order flow (</span><a href="https://www.risk.net/regulation/7946841/germany-has-enough-support-to-block-eus-pfof-ban">PFOF</a><span>), while Germany is trying to block it. This controversial matter stirs up debate in the US as well. One camp favors the SEC Chair Gensler’s hype about “order-by-order” competition published in a </span>&lt...

<p><span>Do market participants need better ability to evaluate potential conflicts of interest of multilateral trading venues? No. Market participants are not “Cops” to regulate trading venues, the Securities and Exchange Commission (SEC) is. The public relies on market regulators and Self-Regulatory Organizations (SROs) to assure that they are not scammed in the </span><b>open market</b><span>. Such a market is called the Exchang...

Regulators should refrain from intervening legitimate private practices, writes Kelvin To of Data Boiler Technologies.

<p><span>The Exchange Act defines “dealer” broadly to encompass any person that is “engaged in the business of buying and selling securities . . . for [its] own account,” unless it is not doing so as “part of a regular business.”</span><a name="_ftnref1" href="https://www.sec.gov/news/statement/peirce-statement-proposal-further-define-dealer-032822?utm_medium=email&utm_source=govdelivery#_ftn1...

The Securities and Exchange Commission (“SEC” or “Commission”) has released a proposal to amend Exchange Act Rule 3b-16, Regulation ATS, and Regulation SCI. Criticized by SEC...

The Securities and Exchange Commission has released a proposal to amend Exchange Act Rule 3b-16, Regulation ATS, and Regulation SCI.1 Criticized by SEC Commissioner Hester Peirce as too wide-ranging and unwieldy with too short of a comment period.

SEC recently issued proposed amendments to the Securities Exchange Act that would significantly broaden the definition of exchange for purposes of regulation under the Exchange Act. The Proposed Rule covers platforms for asset classes that bring together buyers and sellers.

The U.S. Securities and Exchange Commission (SEC) recently issued proposed amendments to the Securities Exchange Act (the “Exchange Act”) that would significantly broaden the definition...