Large Trader ID (LTID)

What is a large trader?

Under SEC Rule 13H, a large trader is any person or legal entity that directly or indirectly exercises discretion over one or more accounts and effects transactions in NMS securities equal to or exceeding:

• 2 million shares or $20 million during any calendar day, or
• 20 million shares or $200 million during any calendar month.

Transactions are not netted within or among accounts — the thresholds apply to a person's trading activity in the aggregate across all accounts.

LTID requirements

Any person who meets the large trader definition must file Form 13H with the SEC and obtain a Large Trader Identification Number (LTID). Large traders are also required to provide their LTID to each registered broker-dealer effecting transactions on their behalf.

For more information on Rule 13H and Form 13H, see:

• SEC Rule 13H (Final Rule)
• Form 13H

Providing your LTID to Clear Street

If you have already obtained an LTID or determine that you meet the large trader definition, contact Support through the Clear Street platform to submit your LTID. Please provide your LTID as soon as it is obtained.

If you have questions about whether you meet the large trader definition, consult a qualified legal or compliance professional.