17 C.F.R. § 240.11a1-3(T)
A bona fide hedge transaction effected on a national securities exchange by a member for its own account or an account of an associated person thereof and involving a long or short position in a security entitling the holder to acquire or sell an equity security, and a long or short position in one or more other securities entitling the holder to acquire or sell such equity security, shall be deemed to be of a kind which is consistent with the purposes of section 11(a)(1) of the Act, the protection of investors, and the maintenance of fair and orderly markets.
17 C.F.R. §240.11a1-3(T)
Secs. 2, 3, 6, 11, 11A, and 23, 89 Stat. 97, 104, 110, 111, 156 (15 U.S.C. 78b , 78c , 78f , 78k , 78k-1 , 78w ) ; secs. 2, 3, 11, 23, 48 Stat. 881, 882, 885, 891, 901, as amended