1245
Registered: May 2012
Posts: 515 |
05-06-13 12:16 AM
Quote from dealmaker:
I understand every B/D must have an SRO, I am asking why some have 2 SROs and others not, if you do not know the answer say so, then perhaps someone else will respond.
Wow, that was nasty. If I'm a BD that joins the AMEX, CBOE and ISE to be an option market maker, I've joined three exchanged. If I also have equity traders that need access, so I join the NYSE and ARCA, I've joined two more exchanges. In addition to that I have a broker business with the public that requires me to be a Finra BD, another. Each one is a SRO but now I can choose who I want to regulate me. As long as each SRO agrees and signed off, that one can cover all my regulatory requirements. Typical with this example it would be FINRA . Without the customer business, any one will due.
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