When should market participants comply with Regulation SHO?
Regulation SHO became effective on September 7, 2004. However, market participants are required to begin complying with Regulation SHO on January 3, 2005. Regulation SHO has a long compliance period to permit broker-dealers and SROs to make necessary systems changes and other order processing adjustments. On November 29, 2004, the Commission approved an order resetting the Pilot to commence on May 2, 2005 and end on April 28, 2006. Although the Second Pilot Order resets the start date and end date for the Pilot, the other terms of the Pilot Order remain unchanged. Furthermore, the compliance date for all other provisions of Regulation SHO remains January 3, 2005.
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- When should market participants comply with Regulation SHO?
