MEMX Syncs Rules to SEC's Five-Year Timestamp Extension Grace Period
Published Date: 6/27/2025
Notice
Summary
MEMX is updating a rule to extend a special exemption about how precise trade timestamps need to be, pushing the deadline from 2025 to 2030. This change affects traders and firms using the Consolidated Audit Trail system, making compliance easier without extra costs or delays. The update kicks in right away, keeping MEMX’s rules in sync with the latest SEC guidance.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Timestamp Exemption Extended to 2030
MEMX updated its rule to extend the exemptive relief for timestamp granularity from April 8, 2025 to April 8, 2030. Industry Members that capture timestamps more granular than nanoseconds must continue to truncate timestamps after the nanosecond level for submission to the Consolidated Audit Trail (CAT) rather than rounding, through April 8, 2030.
Rule Change Operative Immediately
MEMX filed the rule change on June 17, 2025 and the Commission designated the proposed rule change to be operative upon filing. That means the amended Rule 4.10 reflecting the April 8, 2030 expiration is effective immediately upon filing.
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