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Large Trader Rule 13H Question

Forum|Forum|4 years ago
April 6, 2022
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Per the SEC:

"Rule 13h-1 will require a “large trader,” defined as a person whose transactions in NMS securities equal or exceed 2 million shares or $20 million during any calendar day, or 20 million shares or $200 million during any calendar month, to identify itself to the Commission and make certain disclosures to the Commission on Form 13H..."

Does 2 million shares/$20 million in a day and 20 million shares/$200 million in a month apply in a roundtrip fashion, or does the buy AND the sell count toward the limit?

Essentially asking if buying 1 share and then selling 1 share = 1 share or 2 shares.

Thank you!

Not A Product Question

Best answer by Anonymous_

A transaction is a transaction:

Rule 13h-1(a)(7) defines the term “identifying activity level” as “aggregate transactions in NMS securities that are equal to or greater than: (1) during a calendar day, either two million shares or shares with a fair market value of $20 million.....

See https://www.sec.gov/rules/final/2011/34-64976.pdf

A

Anonymous_Answer

Employee

A transaction is a transaction:

Rule 13h-1(a)(7) defines the term “identifying activity level” as “aggregate transactions in NMS securities that are equal to or greater than: (1) during a calendar day, either two million shares or shares with a fair market value of $20 million.....

See https://www.sec.gov/rules/final/2011/34-64976.pdf