A defined Regulation NMS term for the recipients specified for certain § 242.602 notifications and elections. This page is limited to the definition used for the cited § 242.602 notification/election contexts; “specified persons” has broader ordinary and legal uses elsewhere.
ReviewedEvidence1 sourceSectionPhrases & Idioms
Quick answer
Under Regulation NMS, “specified persons” in the stated § 242.602 contexts means each vendor, each plan processor, and in the specified options-underlying case the Options Price Reporting Authority processor.
Key details
Canonical FormSpecified Persons
Core MeaningA defined Regulation NMS term for the recipients specified for certain § 242.602 notifications and elections.
Further guidance
History Boundary
This page is limited to the definition used for the cited § 242.602 notification/election contexts; “specified persons” has broader ordinary and legal uses elsewhere.
Meaning
Under Regulation NMS, “specified persons” in the stated § 242.602 contexts means each vendor, each plan processor, and in the specified options-underlying case the Options Price Reporting Authority processor.
Usage Boundary
This page is limited to the definition used for the cited § 242.602 notification/election contexts; “specified persons” has broader ordinary and legal uses elsewhere.
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.
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Under current U.S. Regulation NMS, an “automated trading center” is a trading center with systems, procedures, and rules capable of displaying automated quotations, identifying non-automated quotations as manual, and applying reasonable standards for changes between automated and manual status. This is a condensed rule-scoped explanation of 17 CFR § 242.600; the full definition contains multiple operational conditions and should be consulted for compliance work.
