A defined Regulation NMS role for a self-regulatory organization or securities information processor acting as the exclusive processor for a facility contemplated by an effective national market system plan. Keep this page scoped to the U.S. Regulation NMS definition; “processor” in other market-data or technology contexts may mean something different.
ReviewedEvidence1 sourceSectionPhrases & Idioms
Quick answer
Under Regulation NMS, a “plan processor” is an SRO or securities information processor acting as the exclusive processor in connection with a facility contemplated by an effective national market system plan.
Key details
Canonical FormPlan Processor
Core MeaningA defined Regulation NMS role for a self-regulatory organization or securities information processor acting as the exclusive processor for a facility contemplated by an effective national market system plan.
Further guidance
History Boundary
Keep this page scoped to the U.S. Regulation NMS definition; “processor” in other market-data or technology contexts may mean something different.
Meaning
Under Regulation NMS, a “plan processor” is an SRO or securities information processor acting as the exclusive processor in connection with a facility contemplated by an effective national market system plan.
Usage Boundary
Keep this page scoped to the U.S. Regulation NMS definition; “processor” in other market-data or technology contexts may mean something different.
Sources and evidence
Sources are shown with the role they play in this guide. Historical or style-sensitive claims are kept within the evidence boundary described above.
A national market system plan approved by the Securities and Exchange Commission, temporarily or permanently, pursuant to § 242.608. Keep the approval and § 242.608 scope in the definition; this is not a generic label for any market-system operating plan.
Effective Transaction Reporting Plan is a current Regulation NMS defined term. This guide keeps “effective” tied to Commission approval under § 242.601 rather than ordinary-language effectiveness.
Joint Self-Regulatory Organization Plan is a current Regulation NMS defined term. This guide preserves the rule-specific definition and boundaries instead of replacing it with informal market shorthand.
National Market System Plan is a current Regulation NMS defined term. This guide preserves the rule-specific definition and boundaries instead of replacing it with informal market shorthand.
A defined Regulation NMS plan for collecting, processing, making available, or disseminating transaction reports that is filed with the Commission and meets § 242.601. This page is limited to the U.S. Regulation NMS definition and should not be read as describing every securities reporting plan.
Actionable Indication of Interest is a current federal securities-regulation defined term. This guide preserves the rule-specific definition and boundaries instead of replacing it with informal market shorthand.
Administrative Data is a current Regulation NMS defined term for specified administrative, control, and technical messages in the market-data plan framework.
Affiliate of a Subscriber is a current Regulation ATS defined term. This guide preserves the rule-specific meaning and boundary instead of replacing it with informal market shorthand.
