National Securities Market System Act

[AI summary unavailable — showing source text] National Securities Market System Act - Defines terms used in the Securities Exchange Act, including the terms "members" when used with respect to an exchange or a registered securities association and "securities information processor". Provides that any exchange may be registered as a national securities exchange by filing with the Commission a registration statement setting forth specified information, and accompanied by enumerated documents. States that an exchange shall not be registered as a national securities exchange unless it appears to the Commission that specified criteria are met, including: (1) such exchange is able to comply with and to enforce compliance by its members with the provisions of this title; (2) the rules of the exchange assure a fair representation of its members; (3) the rules of the exchange provide for the equitable allocation of dues and other charges among its members; and (4) the rules of the exchange are designed to prevent fraudulent and manipulative acts and practices. Makes it unlawful for any securities information processor, unless registered, to make use of the mails or any means of interstate commerce to perform the functions of a securiti…