Binance CUSTOMER SERVice Number @! The one service that gets a lot internal use is Instant Messenger. Several commenters believed that markets ought to be permitted to depend on third parties,98 and one added that no circumstances needs to be imposed and third events should not be required to meet qualification requirements.99 One commenter believed, nevertheless, that the Commissions should create or designate one official source for any knowledge used for purposes of determining market capitalization and dollar worth of ADTV, not only for the highest 750 and Top 675, however for all securities registered under Section 12.100 Upon careful consideration of the query, the Commissions have determined to not undertake any rules at the moment that prohibit or place conditions on the usage of third events or impose skills standards on such third events. 3. Use of the top 750 and Top 675 Lists As famous above, commenters indicated that it can be troublesome to always determine the top 750 and Top 675 securities, and endorsed the concept that the Commissions publish a listing of the highest 750 and Top 675 securities. Any security that seems on both lists can be deemed to be considered one of the highest 750 and Top 675 securities each day during the interval through which those lists are designated as applicable.
Paragraph (b) of the rule was proposed to supply a transition interval for an index that was a slender-based security index and grew to become broad-based mostly for greater than 45 days over three consecutive calendar months, permitting it to continue to be a narrow-based security index for the three following calendar months.135 To attenuate disruption, paragraph (c) of the rule also was proposed to supply that a national securities exchange may, following the transition interval, continue to commerce only in those months during which the contract had open curiosity on the date the transition interval ended and shall restrict trading to liquidating positions. Finally, the principles as adopted provide, as in their proposed version, that if an index that has qualified beneath the short-term exclusion subsequently assumes slim-based characteristics for greater than 45 enterprise days over three consecutive calendar months, it becomes a narrow-primarily based security index, and thus the longer term on it becomes a security future following an extra three-month grace interval. https://2819main.com/contents/%eb%b0%94%ec%9d%b4%eb%82%b8%ec%8a%a4-%ec%b6%9c%ea%b8%88-%ed%80%b4%ec%a6%88-%ea%b7%b8-%ea%b8%b0%eb%8a%a5%ec%9d%80-%eb%ac%b4%ec%97%87%ec%9d%b8%ea%b0%80%ec%9a%94/ of these commenters therefore advocated the adoption of a rule that would permit the trading of futures on such indexes on futures exchanges at the very least by ECPs, within the absence of a separately crafted standard for foreign based safety indexes to qualify as broad-primarily based indexes.129 Otherwise, they argued, the buying and selling of such futures would migrate to an unregulated arena.130 Two commenters observed, on the other hand, that trading over-the-counter is harder and substantially dearer than on an exchange, and cited this truth as an argument to permit trading in such indexes on a futures exchange.131 3. Final Rules The Commissions are adopting Rule 41.13 below the CEA and Rule 3a55-3 underneath the Exchange Act132 as proposed.
The other commenter expressed the additional concern that below the principles as proposed, an exchange with plans to begin buying and selling a future on a broad-based mostly index would don't have any assurance, until the eve of the launch date, that in fact the index had been broad-based for daily during the preceding 6 months.107 This commenter prompt that an exclusion instead needs to be granted if the index simply was narrow-based not more than 45 days over three months trying retroactively from the launch date. The Commissions believe that this technique of taking a "snapshot" of the present lowest weighted 25% and then looking retroactively to find out the aggregate greenback worth of the ADTV over the preceding 6 months of the securities in the snapshot is an affordable strategy for the needs of the statute and can be considerably much less burdensome than the choice of requiring a calculation of the info for the bottom weighted 25% of the index for each day of the preceding 6 full calendar months.87 5. Determining "the Preceding 6 Full Calendar Months" As already famous, the CEA and Exchange Act specify that the dollar value of ADTV and market capitalization are to be calculated as of the "previous 6 full calendar months."88 Paragraph (d)(8) of CEA Rule 41.11 and Exchange Act Rule 3a55-1, being adopted as we speak as proposed, defines "preceding 6 full calendar months," with respect to a selected day, as the time period beginning on the same day of the month 6 months earlier than such day, and ending on the day prior to such day.89 For example, for August 16 of a particular year, the preceding 6 full calendar months means the period starting February sixteen and ending August 15. Similarly, for March eight of a specific 12 months, the preceding 6 full calendar months begins on September 8 of the previous 12 months and ends on March 7. The Commissions imagine that this "rolling" 6-month approach is appropriate, particularly in gentle of points that would come up if 6 full calendar months were measured from the first to the last day of every month on the calendar.
The Commissions notice that the statute by its personal terms requires 30 days of trading as a broad-primarily based index before modifications in an index's characteristics could also be tolerated. The opposite commenter urged that if the underlying index had been slender-primarily based for at the least six consecutive months prior to the preliminary trading of the security index futures contract, but later grew to become a broad-based index, there ought to be a presumption that the contract was supplied as a slender-based contract in good religion.137 As such, the rule ought to allow a grace interval of 9 months, as a substitute of three, for purposes of unwinding the contract, or the rule should enable the itemizing market to hunt qualification as a designated contract market so as to proceed trading the contract. In https://www.gottliebgallery.com/contents/%eb%b0%94%ec%9d%b4%eb%82%b8%ec%8a%a4-%ec%a0%9c%ed%95%9c-%ec%82%ac%ed%95%ad%ec%9d%84-%ed%8f%ac%ed%95%a8%ed%95%98%ec%97%ac-%eb%b0%94%ec%9d%b4%eb%82%b8%ec%8a%a4%ec%97%90-%eb%8c%80%ed%95%b4-%ec%95%8c/ would proceed to be treated for an interim grace interval of three months as a slender-based mostly contract. The final rules exclude from the definition of slender-primarily based security index an index that satisfies one of three different necessities. https://genshin-matome.com/contents/%eb%b0%94%ec%9d%b4%eb%b9%84%ed%8a%b8-%ec%88%98%ec%88%98%eb%a3%8c%ec%99%80-%ec%a0%84%ec%b2%b4-%ea%b5%ac%ec%a1%b0/ providing for the designation of lists can also be supposed to address one other concern raised by the Commissions within the Proposing Release and remarked on by several commenters: How often should the top 750 and Top 675 securities be recognized to be able to confirm that component securities of an index nonetheless can be included on such lists?