September 2020
STA Files Comment Letter on Form 13F

"STA acknowledges that the current reporting threshold presents burdens on certain small investment managers, but given the importance of the information from Form 13F we recommend that the Commission exercise extreme caution in raising the reporting threshold. 

We believe a threshold which is materially lower than the proposed $3.5 billion AUM will more effectively balance the interests of small investment managers; issuers and the investors they serve."
STA Trading Views Podcast - New Episode Released!

In Episode 4 of STA Trading Views, we sat down with former SEC Commissioner Troy Paredes of Paredes Strategies LLC. We covered AI, recent developments at the SEC, and insights on how to track those issues you care about post-Presidential election. We also highlighted Troy's bi-monthly podcast Appetite for Disruption, which focuses on the business and regulation of fintech.
2020 Market Structure Virtual Conference - Speakers Page!
Registration is over 900!

You don't want to miss this year's exciting lineup of thought leaders
and experts who will share their insights and discuss the most
important topics facing our industry today!
ICYMI - Open Call Recording

How asset managers will incorporate SEC Rule 606(b)(3) Reports into their best-execution policies and procedures is a topic of conversation between and among various market participants.

On September 3, we hosted an STA Open Call to discuss Rule 606(b)(3) and the common questions asset managers and their brokers are asking with:

Jeff Estella
Founder

and

Justin Schack
Managing Director & Partner
Lighthouse

New Jersey's FTT: Express your Opposition

Whether New Jersey’s rate or any FTT rate is small, medium or just right, is not the question because history has proven that tiny tax rates don’t stay tiny. The question here is, should any state, or group of states, be allowed to impose a tax on our national markets for their own benefit. 
From the Hill

SEC Trading & Markets Staff No Action Letter
SEC Trading & Markets Division staff TM Division issued a No Action letter to FINRA discussing the role of an ATS in the settlement of digital asset securities. The relief addresses the unsuitability of the current non-custodial ATS model with the crossing of digital assets.
CFTC Finalizes Rules to Improve Swap Data Reporting, Approves Other Measures at September 17 Open Meeting
The Commodity Futures Trading Commission at its open meeting today unanimously approved three final rules to revise CFTC regulations for swap data reporting, dissemination, and public reporting requirements for market participants. All three measures are part of the CFTC’s efforts to improve the quality, accuracy, and completeness of the data reported to the agency and streamline CFTC regulations.
SEC Proposes Rules to Extend Regulations ATS and SCI to Treasuries and Other Government Securities Markets
The SEC today announced a proposal to enhance the operational transparency, system integrity, and regulatory oversight for ATSs that trade government securities as well as repurchase and reverse repurchase agreements on government securities (Government Securities ATSs) and issued a concept release soliciting public comment on the regulatory framework for electronic platforms that trade corporate debt and municipal securities.
Complimentary Registrations for STAR Individuals - Spots Left!
The STA Job Re-Entry Program is offering 100 Complimentary Conference Registrations for STA's 2020 Market Structure Virtual Conference to
industry professionals who are in between jobs and actively pursuing
an opportunity within financial services.
STA in the News
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OIR Interviews: How is the Pandemic Impacting the Securities Industry?
Jim Toes, President and CEO of the Security Traders Association, recently sat down with Mark Longo of Options Insider radio to discuss the state of the options space and how it has been impacted by the pandemic, as well as STA’s upcoming virtual Market Structure Conference, which features the theme “A New Today.”
A New Today: STA President Jim Toes Discusses Upcoming Virtual Market Structure Conference
This year’s Security Traders Association’s Annual Market Structure Conference on October 7-8 will be online due to the pandemic. But that has not stopped more than 700 industry pros from signing up already.
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