United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 1998_register executive 2010-09-24 article Part II Rules and Regulations D09002ee1bdfe71de D09002ee1bdfe72d3 United States Securities and Exchange Commission originator org United States Government Agency or Subagency The Securities and Exchange Commission today is adopting new rules and rule amendments to allow alternative trading systems to choose whether to register as national securities exchanges, or to register as broker-dealers and comply with additional requirements under Regulation ATS, depending on their activities and trading volume. The Commission is also adopting amendments to rules regarding registration as a national securities exchange, repealing Rule 17a-23, and amending the books and records rules by transferring the recordkeeping requirements from Rule 17a-23 to Rules 17a-3 and 17a-4 as they apply to broker-dealer internal trading systems. Finally, the Commission is excluding from the rule filing requirements for self- regulatory organizations certain pilot trading systems operated by national securities exchanges and national securities associations. These rules will more effectively integrate the growing number of alternative trading systems into the national market system, accommodate the registration of proprietary alternative trading systems as exchanges, and provide an opportunity for registered exchanges to better compete with alternative trading systems. 63 FR 70844 https://www.govinfo.gov/app/details/FR-1998-12-22/98-33299 98-33299 fr22de98-19 RIN 3235-AH41 8010-01-M Release No. 34-40760 File No. S7-12-98 https://www.govinfo.gov/app/details/FR-1998-12-22/98-33299 https://www.govinfo.gov/content/pkg/FR-1998-12-22/html/98-33299.htm https://www.govinfo.gov/content/pkg/FR-1998-12-22/pdf/98-33299.pdf 108 p. 70844 70951 63 FR 70844 Title 17 Part 202 17 CFR Part 202 Title 17 Part 202et al. 17 CFR Part 202et al. Title 17 Part 240 17 CFR Part 240 Title 17 Part 242 17 CFR Part 242 Title 17 Part 249 17 CFR Part 249 RIN 3235-AH41 Regulation of Exchanges and Alternative Trading Systems; Federal Register Vol. 63, Issue RULE 98-33299 II SECURITIES AND EXCHANGE COMMISSION 1999-04-21 Release No. 34-40760 File No. S7-12-98 8010-01-M 98-33299 Final rules.

The Securities and Exchange Commission today is adopting new rules and rule amendments to allow alternative trading systems to choose whether to register as national securities exchanges, or to register as broker-dealers and comply with additional requirements under Regulation ATS, depending on their activities and trading volume. The Commission is also adopting amendments to rules regarding registration as a national securities exchange, repealing Rule 17a-23, and amending the books and records rules by transferring the recordkeeping requirements from Rule 17a-23 to Rules 17a-3 and 17a-4 as they apply to broker-dealer internal trading systems. Finally, the Commission is excluding from the rule filing requirements for self- regulatory organizations certain pilot trading systems operated by national securities exchanges and national securities associations. These rules will more effectively integrate the growing number of alternative trading systems into the national market system, accommodate the registration of proprietary alternative trading systems as exchanges, and provide an opportunity for registered exchanges to better compete with alternative trading systems.

Effective Date: April 21, 1999, except Secs. 242.301(b)(5)(i)(D) and (E) and Secs. 242.301(b)(6)(i) (D) and (E), which shall become effective on April 1, 2000. Elizabeth King, Senior Special Counsel, at (202) 942-0140, Marianne Duffy, Special Counsel, at (202) 942-4163, Constance Kiggins, Special Counsel, at (202) 942-0059, Kevin Ehrlich, Attorney, at (202) 942-0778, Denise Landers, Attorney, at (202) 942-0137 and John Roeser, Attorney, at (202) 942-0762, Division of Market Regulation, Securities and Exchange Commission, Stop 10-1, 450 Fifth Street, NW, Washington, DC 20549. For questions or comments regarding securities registration issues raised in this release, contact David Sirignano, Associate Director, at (202) 942-2870, Division of Corporation Finance, Securities and Exchange Commission, Stop 3-1, 450 Fifth Street, NW, Washington, DC 20549. Vol. 63, no. 245 Office of the Federal Register, National Archives and Records Administration 1998-12-22 continuing daily deposited born digital 367 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-1998-12-22 P0b002ee180a69bfb 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr22de98 https://www.govinfo.gov/app/details/FR-1998-12-22 https://www.govinfo.gov/content/pkg/FR-1998-12-22/pdf/FR-1998-12-22.pdf fdlp 70629 70987 DGPO 2010-09-24 2023-05-05 FR-1998-12-22 machine generated eng FR FR-1998-12-22 63 245