Legal Question in Business Law in New York
Security Exchange Commission
Are there any known SEC violations if a software manufacturer develops an application utilizing a FIX server technology for stock brokers and traders to view and post IOI's online, for profit ?. Does one have to be registered with the SEC, etc.
1 Answer from Attorneys
SEC Registration of Software Vendors?
The question is not clear to me, since I am unsure what a FIX server is, or what you are referrin to as an "IOI", butgenerally speaking, software vendors, programmers, etc., who work on broker-dealer applications are not required to registerwith the securities regulators. Registration is generally restricted to those who deal with the public, or the public's money or assets.
If you can provide more details, I can probably give you a better answer.
Mark Astarita
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