All Binance prospects can get a 25% discount if they pay charges in Binance Coin (BNB), and high-quantity traders can even qualify for lower charges. For example, national securities exchanges, designated contract markets, registered DTEFs, and overseas boards of commerce may be required to pay certain charges to a vendor to accumulate the mandatory data. The trading price is a set 0.1%/trade. The exchange offers a 25% discount on the buying and selling price if and when BNB Coin (Binance Coin) is used to pay for it. The new rule additionally establishes how one can calculate dollar value of ADTV for the bottom weighted 25% of an index and clarifies that every one reported transactions for any depositary share that represents a security be included within the calculation of dollar value of ADTV of the underlying safety, and that all reported transactions for a security underlying a depository share be included in the calculation of dollar worth of ADTV of the depository share.
For purposes of Section 3(a)(55)(B) of the Exchange Act,171 greenback worth of ADTV of a security is the sum of dollar value of ADTV of all reported transactions in such safety, in every jurisdiction where the safety trades, including transactions within the United States and transactions in jurisdictions other than the United States. Narrow-based safety index has the same that means as in section 1a(25) of the Commodity Exchange Act. 17 CFR Chapter I - Commodity Futures Trading Commission In accordance with the foregoing, Title 17, chapter I of the Code of Federal Regulations is amended by including part 41 to read as follows: Part 41-Security FUTURES Sec. The SEC anticipates that the overall price that will be incurred by every of the 11 exchanges thereafter might be $263,400 annually. The total value for each of the 11 exchanges to keep up one terminal on an annual foundation thereafter is estimated to be $25,800. In addition, it is anticipated that there shall be a one-time set up price of $300 per terminal. The full price for each of the eleven exchanges anticipated to commerce futures on safety indexes to install and maintain one terminal for the primary 12 months is estimated to be $26,100, which includes the one-time set up charge.
The overall value anticipated for all 11 exchanges will subsequently be $2,900,700 for the primary 12 months and $2,897,four hundred annually thereafter. Overall, the 12 months 2022 has been a roller coaster, with many significant worth drops, quite a few firm bankruptcies, scams, and fallout like FTX. The new rule clarifies that such international transaction information could also be used only if it has been reported to a overseas financial regulatory authority within the jurisdiction through which the safety is traded, and that, if the worth data is reported in a international forex, it must be converted into U.S. The calculations required under the brand new guidelines for market capitalization and dollar value of ADTV could require extra data storage.173 A nationwide securities exchange, designated contract market, or registered DTEF will need to contemplate the best way to retailer the info-whether to keep up exhausting copies or digital copies of all of the computations. A market may incur costs if it contracts with an outdoor party to perform the calculations. In https://trudawnsolutions.com/%EB%B0%94%EC%9D%B4%EB%B9%84%ED%8A%B8%20BTC%EC%99%80%20%EC%9E%90%EC%82%B0%EC%9D%84%20%EB%8A%98%EB%A6%AC%EB%8A%94%20%EB%B0%A9%EB%B2%95 , the SEC understands that information storage may be minimized if markets depend on third-occasion vendors as a supply for information as a result of these vendors' terminals typically are linked to Pc terminals that may readily store the data.
A national securities exchange, designated contract market, registered DTEF, or international board of trade may also incur useful resource prices to carry out the computations required beneath the new guidelines. The SEC also received several feedback stating that international boards of trade must be subject to completely different standards with respect to the definition of slender-based security index.180 Two other commenters, nonetheless, said that overseas boards of commerce should be held to the identical standards as nationwide securities exchanges, designated contract markets, and registered DTEFs.181 The SEC notes that the new rules are even-handed in their application with respect to home and foreign markets that suggest to trade futures on a particular safety index and thus shouldn't impose any burden on competition with respect to how explicit safety indexes are treated underneath the ultimate guidelines. As noted above, one commenter indicated that it would need two extra employees personnel to adjust to the brand new rules.174 While not essentially agreeing with that estimate, using the assessment that two full-time staff persons could be required, the SEC estimates that the full annual cost of employing a staff particular person in a clerical place to carry out the computations primarily based on the brand new rules will probably be approximately $42,520 plus 35% for overhead costs (i.e., prices of supervision, house and administrative assist), for a total of roughly $57,600 ($32 per hour per market).175 The SEC estimates that the overall annual price of using a staff person in a supervisory position to oversee the clerical staff person shall be roughly $135,001 plus 35% for overhead costs, for a total of approximately $180,000 ($100 per hour per market).176 Therefore, the SEC estimates the total value that every of the 11 exchanges expected to trade futures on safety indexes will incur in engaging workers to make the required computations to be $237,600 annually.