Requirements for Large Traders
The Securities and Exchange Commission (SEC) has adopted Rule 13h-1 requiring individuals and entities whose aggregate transactions in listed securities (exchange-listed equity securities, ETFs and standardized options) equal or exceed 2 million shares or $20 million in fair market value during any calendar day, or 20 million shares or $200 million in fair market value during any calendar month, known as the "identifying activity level", to file Form 13H registering them as Large Traders. They will then be assigned a Large Trader Identification Number (LTID) by the SEC that they must disclose to their broker-dealers and identify the accounts to which it should apply.
For additional information on the Large Trader Reporting requirement, please visit the SEC's website at http://www.sec.gov/divisions/marketreg/large-trader-faqs.htm, or FINRA's at http://www.finra.org/Industry/Compliance/RegulatoryFilings/BlueSheets/P125234
Filing Form 13H; please note that all information provided through Form 13H is confidential and not accessible to the public:
Important: Individuals or entities must monitor their own trading activity to determine whether it equals or exceeds the identifying activity level in aggregate, and then disclose their Large Trader status to both the SEC (by filing Form 13H) and their broker-dealers (by providing them their LTID).
Please note that filing Form 13H voluntarily is an option in order to avoid constantly monitoring trading activity. However, if TradeKing realizes a client's trading activity in their TradeKing account(s) has reached the Large Trader threshold without possessing an LTID, the client will be notified via email and must proceed to file Form 13H to register as a Large Trader with the SEC. They are then required to inform TradeKing of their assigned LTID and the accounts to which it should apply by contacting us by email at [email protected] or by regular mail to TradeKing, PO Box 49050, Charlotte, NC 28277-3432.
Details on how to file Form 13H electronically can be found at http://www.sec.gov/info/edgar.shtml and https://www.edgarfiling.sec.gov/
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