All Binance clients can get a 25% discount in the event that they pay charges in Binance Coin (BNB), and high-quantity traders can also qualify for lower fees. For https://www.youtube.com/@Coin_universe , national securities exchanges, designated contract markets, registered DTEFs, and overseas boards of trade could also be required to pay sure fees to a vendor to acquire the mandatory data. The trading payment is a set 0.1%/commerce. The exchange provides a 25% discount on the trading price if and when BNB Coin (Binance Coin) is used to pay for it. The brand new rule additionally establishes methods to calculate dollar worth of ADTV for the lowest weighted 25% of an index and clarifies that every one reported transactions for any depositary share that represents a security be included in the calculation of dollar worth of ADTV of the underlying security, and that all reported transactions for a safety 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 dollar worth of ADTV of a security is the sum of greenback worth of ADTV of all reported transactions in such security, in each jurisdiction the place the security trades, including transactions in the United States and transactions in jurisdictions aside from the United States. Narrow-primarily based safety index has the identical which 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 full cost that will be incurred by every of the 11 exchanges thereafter shall be $263,400 annually. The full price for every of the 11 exchanges to maintain one terminal on an annual foundation thereafter is estimated to be $25,800. In addition, it's anticipated that there will likely be a one-time installation payment of $300 per terminal. The full cost for every of the eleven exchanges expected to commerce futures on safety indexes to put in and maintain one terminal for the primary yr is estimated to be $26,100, which includes the one-time set up charge.
The total value anticipated for all 11 exchanges will therefore be $2,900,700 for the primary year and $2,897,four hundred yearly thereafter. Overall, the year 2022 has been a roller coaster, with many important worth drops, quite a few company bankruptcies, scams, and fallout like FTX. The brand new rule clarifies that such international transaction knowledge may be used only if it has been reported to a international financial regulatory authority in the jurisdiction by which the security is traded, and that, if the price information is reported in a foreign forex, it have to be converted into U.S. The calculations required under the new rules for market capitalization and dollar worth of ADTV might require extra data storage.173 A nationwide securities exchange, designated contract market, or registered DTEF will need to consider the way to store the info-whether to keep up onerous copies or electronic copies of all of the computations. A market could incur prices if it contracts with an outdoor get together to perform the calculations. In addition, the SEC understands that data storage may be minimized if markets depend on third-party vendors as a supply for knowledge because these vendors' terminals usually are linked to Pc terminals that can readily store the information.
A nationwide securities exchange, designated contract market, registered DTEF, or overseas board of trade can also incur useful resource costs to perform the computations required below the new rules. The SEC also received several comments stating that foreign boards of trade ought to be topic to totally different standards with respect to the definition of narrow-primarily based safety index.180 Two different commenters, nevertheless, stated that foreign boards of trade needs to be held to the identical standards as national securities exchanges, designated contract markets, and registered DTEFs.181 The SEC notes that the brand new rules are even-handed of their utility with respect to domestic and international markets that suggest to trade futures on a selected safety index and thus should not impose any burden on competitors with respect to how specific security indexes are treated beneath the final guidelines. As noted above, one commenter indicated that it would need two extra workers personnel to comply with the new rules.174 While not necessarily agreeing with that estimate, using the assessment that two full-time employees persons can be required, the SEC estimates that the overall annual cost of employing a staff individual in a clerical place to carry out the computations based on the brand new guidelines shall be roughly $42,520 plus 35% for overhead costs (i.e., costs of supervision, house and administrative assist), for a total of roughly $57,600 ($32 per hour per market).175 The SEC estimates that the whole annual cost of employing a employees person in a supervisory place to oversee the clerical workers individual will probably be approximately $135,001 plus 35% for overhead costs, for a total of roughly $180,000 ($100 per hour per market).176 Therefore, the SEC estimates the total value that every of the 11 exchanges expected to commerce futures on safety indexes will incur in partaking workers to make the required computations to be $237,600 yearly.