"We are happy to partner with FIF on this important market-wide implementation," said Jim Toes, President and CEO of the STA. "FIF is a highly respected organization with expertise in market wide implementations. LTR, while simple in concept, will require a well organized implementation strategy and coordinated effort by industry participants and regulators.

"We believe STA's diverse membership, both in geography and function, provide an effective distribution channel to educate the industry on market structure issues. STA, through its affiliate structure, has a footprint in 23 major cities and states across the US and Canada. Our members are individuals from both buy and sell side firms. Our distribution capabilities and the strong content FIF provides, will be a positive force in the LTR implementation. A successful implementation helps investor confidence."

Manisha Kimmel, Executive Director for FIF added, "We look forward to keeping STA members abreast of the latest developments with Rule 13H-1 and expect to share summary updates from the FIF Large Trader Working Group. The FIF group, made up of broker-dealers, exchanges, and vendors, was formed to identify and address open implementation issues. We expect to work with the SEC and other regulators to gain clarity on the implementation aspects of the rule. Working with STA on the Large Trader Rule is a unique opportunity to broaden the audience of our work."