How do you get a large trader ID?
Getting an Identification Number: After a large trader submits a Form 13H to the SEC, they will be assigned a Large Trader Identification Number (LTID). A large trader will be required to disclose to its broker-dealers its LTID and indicate to which accounts the LTID applies.
How many digits is a large trader ID?
Question 3.2: What is the format of the LTID and the optional suffix? Answer: The LTID is a total of 13-characters. The first 8 characters constitute the root LTID number, which is assigned to the large trader by the Commission in response to the submission of an initial Form 13H filing.
What is a large trader 13H?
Background. Rule 13h-1 defines a Large Trader as a person whose transactions in NMS securities equal or exceed 2 million shares or $20 million during any calendar day, or 20 million shares or $200 million during any calendar month.
What is a 13H?
When a market participant (including an investment adviser) files Form 13H, they identify themselves as a Large Trader. The Large Trader must provide the LTID to each of the registered broker-dealers through which it effects securities transactions.
What is a 13H large trader?
Rule 13h-1 defines a Large Trader as a person whose transactions in NMS securities equal or exceed 2 million shares or $20 million during any calendar day, or 20 million shares or $200 million during any calendar month. The Rule also applies to persons that exercise investment discretion over trading in NMS securities.
Do I need to file a 13H?
Initial Filing: A large trader must file an initial Form 13H promptly after effecting transactions in exchange-listed securities and certain options that equal or exceed (i) 2 million shares or $20 million during any calendar day or (ii) 20 million shares or $200 million during any calendar month (referred to as the “ …
What is a 13H filing with the SEC?
Initial Filing (13H): The Initial Filing is made to identify the Large Trader to the SEC. It is due promptly (generally 10 days) after first effecting aggregate transactions equal to or greater than the Identifying Activity Level and annually thereafter.
Who needs a large trader ID?
The SEC identifies large traders as any trader whose transactions in National Market Securities (NMS) equals or exceeds two million shares or $20 million during any calendar day, or 20 million shares or $200 million during any calendar month.
What is an unidentified large trader?
The Rule requires broker-dealers to treat as an Unidentified Large Trader (for purposes of the recordkeeping and reporting provisions in paragraphs (d) and (e) of the Rule) any person that the broker- dealer “knows or has reason to know” is a Large Trader where such person has not complied with the identification …
Who is a large trader under Rule 13h-1?
Rule 13h-1 will require a “large trader,” defined as a person whose transactions in NMS securities equal or exceed 2 million shares or $20 million during any calendar day, or 20 million shares or $200 million during any calendar month, to identify itself to the Commission and make certain disclosures to the Commission on Form 13H.
What are the requirements for reporting a large trader?
Large Trader Reporting 1 Regulatory Obligations and Related Considerations. Exchange Act Rule 13h-1 (Large Trader Rule) requires “large traders” to identify themselves as such to the SEC, disclose to other firms their large trader 2 Exam Findings and Effective Practices. 3 Additional Resources
How does the SEC identify a large trader?
Upon receipt of Form 13H, the Commission will assign to each large trader an identification number that will uniquely and uniformly identify the trader, which the large trader must then provide to its registered broker-dealers.
When is the compliance date for rule 13h-1?
Compliance Dates: [Insert date 120 days after publication in the Federal Register] for the requirement on large traders to identify to the Commission pursuant to Rule 13h-1(b).