# Recordkeeping and Reporting Requirements for Trading Systems Operated by Brokers and Dealers; Delegation of Authority
> **US Securities and Exchange Commission** · Final rule; change of effective date. · Published 1995-06-02 · Effective 1994-12-28 · 60 FR 28716
## Document
- **Document number:** 95-13465
- **Category:** final-rule
- **Agency:** US Securities and Exchange Commission
- **Federal Register citation:** 60 FR 28716
- **CFR reference:** 17 CFR 200
- **Publication date:** 1995-06-02
- **Effective date:** 1994-12-28
- **Docket:** Release No. 34-35775
## Abstract

The Securities and Exchange Commission (``Commission'') is postponing the effective date that registered broker-dealer sponsors of certain automated trading systems (as defined in Rule 17a-23) (``Broker-Dealer Trading Systems'') must comply with the recordkeeping requirements of Rule 17a-23 under Section 17 of the Securities Exchange Act of 1934 from June 1, 1995 to July 1, 1995, in order to facilitate the process of conversion to a standard trade settlement time frame of three business days after the trade date. In addition, the Commission is amending its regulation concerning Organization and Program Management<SUP>1 to delegate authority to the Director of the Division of Market Regulation (``Division'') to grant exemptions to any sponsor, or class of sponsors, of a Broker-Dealer Trading System or Systems from any or all of the provisions of Rule 17a-23, either unconditionally or on specified terms and conditions, if the Director of the Division determines that such exemption is consistent with the public interest or the protection of investors.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1995/06/02/95-13465/recordkeeping-and-reporting-requirements-for-trading-systems-operated-by-brokers-and-dealers)
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