Trading Platforms Must Keep Snitching to SEC, No Changes
Published Date: 3/4/2026
Notice
Summary
The SEC is asking to keep collecting info from alternative trading systems (ATSs) under Rule 302, which helps keep trading fair and safe. This extension means ATSs—special trading platforms—must keep filing their reports and protecting traders’ info. No new costs or deadlines, just continuing the current rules to keep the market running smoothly.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
ATSs Must Keep Records; Annual Burden
Alternative trading systems (111 respondents) must keep records required by Rule 302 and preserve them for at least three years. Respondents will spend about 4,773 hours per year in total (43 hours per ATS) at an average internal cost of $89 per hour, for an aggregate internal cost of about $424,797 per year; compliance is mandatory.
Data Helps Regulators Protect Investors
The SEC says the information collected under Rule 302 should increase the ability of the Commission, state securities regulators, and self-regulatory organizations to ensure ATS compliance, protect investors, and promote fair and orderly markets. If the information were not collected or were collected less frequently, regulators say they would be limited in carrying out those duties.
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