🇺🇸 Live Securities & Capital Markets

Regulation SHO/NMS/ATS (17 CFR 242)

Establishes rules governing short selling, order execution, and alternative trading systems in U.S. securities markets, including locate and close-out requirements for short sales. Applies to broker-dealers, exchanges, and alternative trading systems.

View official source document

Rules extracted

2,497

Obligations decomposed

25.7x

Avg obligations per rule

🇺🇸 United States

Jurisdiction

What AuditDSS covers

Source

Regulation

Extracted

Rules

Decomposed

2,497

Obligations

25.7x

Decomposition ratio

Each rule is decomposed into an average of 25.7 atomic obligations — the smallest testable units that can be independently violated.

Fully extracted & scored

All 2,497 obligations have been decomposed, titled, risk-scored, and embedded for semantic matching.

Risk scoring

Every obligation in Regulation SHO/NMS/ATS is scored across independent risk dimensions:

Obligation Weight

How critical within the regulatory framework

Violation Likelihood

How often breached in practice

Enforcement Evidence

Regulator enforcement history and penalties

Cascade Dependency

How many obligations depend on this one

Regulatory details

Full title: Regulation SHO/NMS/ATS (17 CFR 242)
Regulatory body: Securities and Exchange Commission
Jurisdiction: 🇺🇸 United States
Document type: regulation
Effective date: January 3, 2005
Industry: Securities & Capital Markets
Official source: View source document ↗

Who this applies to

broker-dealersmarket makersshort sellersexchangesalternative trading systems

Key requirements

short sale locate requirement
close-out requirements
threshold securities list
circuit breaker restrictions
marking requirements for sell orders

Frequently asked questions about Regulation SHO/NMS/ATS

What is Regulation SHO/NMS/ATS?

Who does Regulation SHO/NMS/ATS apply to?

Regulation SHO/NMS/ATS applies to broker-dealers, market makers, short sellers, exchanges, alternative trading systems.

How many obligations does Regulation SHO/NMS/ATS contain?

AuditDSS has decomposed Regulation SHO/NMS/ATS into 2,497 atomic obligations from 97 rules. Each obligation is independently testable and risk-scored.

What are the key requirements of Regulation SHO/NMS/ATS?

The key requirements include: short sale locate requirement, close-out requirements, threshold securities list, circuit breaker restrictions, marking requirements for sell orders.

How can I assess my Regulation SHO/NMS/ATS compliance?

Upload your compliance policy to AuditDSS. The platform maps your document against all 2,497 Regulation SHO/NMS/ATS obligations using deterministic AI scoring — not checklists or LLM summaries. You get a risk-scored gap analysis showing exactly which obligations are covered, partially covered, or missing.

Which jurisdiction enforces Regulation SHO/NMS/ATS?

Regulation SHO/NMS/ATS is enforced in United States by Securities and Exchange Commission.

When did Regulation SHO/NMS/ATS come into effect?

Regulation SHO/NMS/ATS became effective on January 3, 2005.

What industry does Regulation SHO/NMS/ATS apply to?

Regulation SHO/NMS/ATS is primarily relevant to the Securities & Capital Markets industry. AuditDSS covers 98 regulations in this industry sector.

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Don't have a compliance policy yet? AuditDSS generates a complete compliance pack for Regulation SHO/NMS/ATS — alone or combined with other regulations your business needs. Every clause is mapped to specific obligations.

Policy

High-level commitments and governance framework covering Regulation SHO/NMS/ATS requirements.

Procedures

Step-by-step operational procedures to implement each policy commitment.

Forms & checklists

Ready-to-use forms, registers, and checklists for day-to-day compliance operations.

Multi-regulation

Combine Regulation SHO/NMS/ATS with other regulations into a single unified compliance pack for your business.

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AI maps against 2,497 obligations

Your document is scored against every obligation in Regulation SHO/NMS/ATS. Each claim is mapped to the obligation tree and evaluated for coverage.

Risk-scored gap report

Receive every gap ranked by risk priority with remediation guidance, enforcement evidence, and cascade impact analysis.