### Question
What is the definition of identifying activity level?


### Answer
The definition of **identifying activity level** is as follows in *15 U.S.C. § 78m*:

> transactions in publicly traded securities at or above a level of volume, fair market value, or exercise value as shall be fixed from time to time by the Commission by rule or regulation, specifying the time interval during which such transactions shall be aggregated

#### Citation:
  - *15 U.S.C. § 78m*
  - Heading: **CHAPTER 2B-SECURITIES EXCHANGES**

