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Exchange Regulatory Improvement: Redefining 'Facility' for Securities Exchanges

This Act revises the definition of 'facility' for securities exchanges, clarifying what constitutes exchange infrastructure. This aims to provide a clearer scope for exchange regulations, potentially impacting the transparency and efficiency of financial markets, and indirectly, the security of citizens' investments.
Key points
Specifies that an exchange 'facility' primarily includes trading systems (hardware, software, network) for order processing and execution.
Includes physical spaces and services provided by the exchange for members to co-locate their equipment near trading systems.
Excludes services that can legally be offered by entities not required to register as national securities exchanges, potentially affecting competition in financial services.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_6027
Sponsor: Rep. Loudermilk, Barry [R-GA-11]
Process start date: 2023-10-25
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Exchange Regulatory Improvement Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6027.

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 2023-10-25.

What are the main provisions?

Key points include:

  • Specifies that an exchange 'facility' primarily includes trading systems (hardware, software, network) for order processing and execution.
  • Includes physical spaces and services provided by the exchange for members to co-locate their equipment near trading systems.
  • Excludes services that can legally be offered by entities not required to register as national securities exchanges, potentially affecting competition in financial services.
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 2025-12-25.

CATEGORIES

Economy