### Question
What does identifying activity level mean?


### Answer
**Identifying activity level** has the following meaning 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 2A-SECURITIES AND TRUST INDENTURES > SUBCHAPTER III-TRUST INDENTURES**

