All Binance prospects can get a 25% low cost in the event that they pay charges in Binance Coin (BNB), and excessive-volume traders can also qualify for lower fees. For example, nationwide securities exchanges, designated contract markets, registered DTEFs, and overseas boards of commerce could also be required to pay sure fees to a vendor to acquire the mandatory information. The buying and selling price is a fixed 0.1%/trade. The exchange affords a 25% low cost on the buying and selling payment if and when BNB Coin (Binance Coin) is used to pay for it. The brand new rule additionally establishes how to calculate dollar value of ADTV for the bottom weighted 25% of an index and clarifies that all reported transactions for any depositary share that represents a security be included within the calculation of dollar worth of ADTV of the underlying security, and that all reported transactions for a security underlying a depository share be included within the calculation of greenback value of ADTV of the depository share.
For functions of Section 3(a)(55)(B) of the Exchange Act,171 dollar value of ADTV of a safety is the sum of dollar worth of ADTV of all reported transactions in such security, in every jurisdiction where the security trades, together with transactions in the United States and transactions in jurisdictions apart from the United States. Narrow-primarily based security index has the same meaning 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 forty one to read as follows: Part 41-Security FUTURES Sec. https://m.blog.naver.com/nrudo1 anticipates that the whole cost that will be incurred by every of the 11 exchanges thereafter can be $263,400 yearly. The total value for every of the 11 exchanges to take care of one terminal on an annual basis thereafter is estimated to be $25,800. In addition, it's anticipated that there shall be a one-time set up charge of $300 per terminal. https://gadzooksdesign.com/contents/%eb%b0%94%ec%9d%b4%eb%82%b8%ec%8a%a4-%ea%b1%b0%eb%9e%98%ec%86%8c-%ec%86%8c%ea%b0%9c/ for every of the 11 exchanges anticipated to commerce futures on security indexes to put in and maintain one terminal for the first yr is estimated to be $26,100, which includes the one-time installation fee.
The whole value anticipated for all 11 exchanges will due to this fact be $2,900,700 for the first yr and $2,897,four hundred yearly 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 brand new rule clarifies that such foreign transaction information may be used only if it has been reported to a foreign monetary regulatory authority in the jurisdiction wherein the safety is traded, and that, if the value information is reported in a foreign currency, it must be converted into U.S. The calculations required under the new guidelines for market capitalization and dollar value of ADTV might require additional data storage.173 A national securities exchange, designated contract market, or registered DTEF will need to think about the best way to retailer the information-whether to keep up hard copies or digital copies of all of the computations. A market may incur prices if it contracts with an out of doors celebration to perform the calculations. In addition, the SEC understands that knowledge storage could also be minimized if markets depend on third-occasion distributors as a supply for data as a result of these vendors' terminals typically are linked to Pc terminals that may readily retailer the data.
A nationwide securities exchange, designated contract market, registered DTEF, or foreign board of commerce may also incur resource costs to perform the computations required under the new rules. The SEC also received a number of comments stating that foreign boards of commerce ought to be topic to different criteria with respect to the definition of slim-based mostly security index.180 Two different commenters, nonetheless, acknowledged that international boards of trade must be held to the same 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 propose to commerce futures on a specific security index and thus shouldn't impose any burden on competitors with respect to how specific safety indexes are treated underneath the ultimate rules. As noted above, one commenter indicated that it would need two extra employees personnel to adjust to the new guidelines.174 While not essentially agreeing with that estimate, utilizing the assessment that two full-time staff individuals could be required, the SEC estimates that the overall annual value of employing a employees particular person in a clerical place to perform the computations based mostly on the brand new guidelines will likely be roughly $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 total annual value of using a workers individual in a supervisory position to oversee the clerical staff person can be approximately $135,001 plus 35% for overhead prices, for a complete of approximately $180,000 ($100 per hour per market).176 Therefore, the SEC estimates the full cost that each of the 11 exchanges expected to trade futures on safety indexes will incur in engaging staff to make the required computations to be $237,600 yearly.