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Changes to 'Facility' Definition: Clearer Rules for Financial Markets.

This act clarifies the definition of a 'facility' in the context of securities exchanges. This aims to make it easier to understand which parts of exchange infrastructure are subject to regulation and which are not, potentially impacting the transparency and stability of financial markets, and indirectly affecting citizens' investments.
Key points
The new definition of an exchange facility includes trading systems (hardware, software, network) for receiving, matching, and executing orders.
It also covers premises and services provided to exchange members for co-locating their equipment near trading systems.
Services that can legally be offered by non-registered exchanges are excluded from the definition.
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Status:
Expired
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Additional Information
Print number: 117_HR_8617
Sponsor: Rep. Loudermilk, Barry [R-GA-11]
Process start date: 2022-07-29
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Exchange Regulatory Improvement Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8617.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-07-29.

What are the main provisions?

Key points include:

  • The new definition of an exchange facility includes trading systems (hardware, software, network) for receiving, matching, and executing orders.
  • It also covers premises and services provided to exchange members for co-locating their equipment near trading systems.
  • Services that can legally be offered by non-registered exchanges are excluded from the definition.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Loudermilk, Barry [R-GA-11].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy