...its exchange membership prior to the adoption of Rule 19b-2 may be presumed, for up to three years, to have as the principal purpose of its membership the conduct of a public securities business, if (1) the member, within 30 days after the adoption of the exchange's rule, furnishes a written commitment...

...protection of investors to assure that every member of a registered national securities exchange has as the principal purpose of its membership the conduct of a public securities business. Such rules and regulations shall require that a member shall transact a preponderant portion of the...

...19 (b) (2), implementing that standard, 13/ imposed an 80-20 test that required each exchange member "to have as the principal purpose of its membership...conduct of a public securities business." A member would be deemed to nave such a purpose if at least 80 percent of the value of exchange securities transactions...

...19(b) (2), implementing that standard, 13/ imposed an 80-20 test that required each exchange member "to have as the principal purpose of its membership...conduct of a public securities business." A member would be deemed to have such a purpose if at least 80 percent of the value of exchange securities transactions...

...be presumed, for a period not to exceed 3 years following the date of the adoption of this section, to have, as the principal purpose of its membership, the conduct of a public securities business, If (1) Within 30 days after the date of the adoption of such exchange rule, such member shall furnish...

...which conducted a principally public business. The SEC adopted Rule 19b-2 under the 1934 Act in 1973, which required each member of an exchange "to have...fulfill the "public purpose" requirement if at least 80% of its transactions were effected for persons other than •affiliated persons", or consisted of specified...

...public business. The SEC adopted Rule 19b-2 under the 1934 Act in 1973, which required each member of in exchange "to have as the principal purpose of its...conduct of a public securities business." A member was Raid to fulfill the "public purpose" requirement if at least |0% of it* transactions were effected...

...each securities exchange registered with the Commission shall, by rule, require every member of such exchange to have as the principal purpose of its membership...conduct of a public securities business. A member shall be deemed to have such a purpose if at least 80 percent of the value of exchange securities transactions...

...directed each securities exchange registered with the Commission to adopt rules requiring every member "to have as the principal purpose of its membership the conduct of a public securities business." For purposes of the Rule, a member is presumed to be conducting a public securities business if at...