From: Suzanne Shatto
(Release No. 34-79869; File No. SR-BOX-2017-02) January 24, 2017 Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to amend Rule 7130 (Execution and Price/Time Priority) to include a Participant ID, if elected, to be included in BOX’s proprietary High Speed Vendor Feed (“HSVF”) for orders exposed pursuant to Rule 7130(b)(3)(ii)
this is unnecessary and damaging to the institutional and retail participants, a conflict of interest because an exchange has no business disclosing any IDs to any participants.
exchanges do not need to disclose participant ID to anyone. the clearinghouse interposes itself between the buyer and seller.
be very careful in authorizing disclosure of some bits of information to only particular clients of the exchange. the financial industry has specialized in hiding much information from the public and even regulators. this is to the detriment of the market in general, advantages particular favored clients over others.
Suzanne Hamlet Shatto