S.E.C. Rules to Protect Investors From Cyberthreats Fall Short
- 7 years ago
S.E.C. Rules to Protect Investors From Cyberthreats Fall Short
Stock exchanges like IEX, Nasdaq and the New York Stock Exchange had to comply with the new requirements
and make their operations available for audits by the S. E.C.
These firms send Citadel almost three million equity orders a day totaling almost 1.7 billion shares, according to figures cited in an S. E.C.
Among them were firms that buy stock orders from retail brokerage firms, known as wholesalers or internalizers.
Also disquieting about the rule: Nowhere does the agency publish the list of entities that comply with the systems integrity rule.
rule required exchanges and certain other trading venues to have comprehensive procedures
ensuring “the robustness and resiliency of their technological systems.”
Bolstering cybersecurity measures was a component of the rule.
These orders accounted for about 35 percent of the average daily volume of retail stock trades in the United States, the S. E.C.
Stock exchanges like IEX, Nasdaq and the New York Stock Exchange had to comply with the new requirements
and make their operations available for audits by the S. E.C.
These firms send Citadel almost three million equity orders a day totaling almost 1.7 billion shares, according to figures cited in an S. E.C.
Among them were firms that buy stock orders from retail brokerage firms, known as wholesalers or internalizers.
Also disquieting about the rule: Nowhere does the agency publish the list of entities that comply with the systems integrity rule.
rule required exchanges and certain other trading venues to have comprehensive procedures
ensuring “the robustness and resiliency of their technological systems.”
Bolstering cybersecurity measures was a component of the rule.
These orders accounted for about 35 percent of the average daily volume of retail stock trades in the United States, the S. E.C.