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SEC RIN: 3235-AM61 Publication ID: Fall 2020 
Title: Market Data Infrastructure 

The Division is considering recommending that the Commission adopt rules to modernize the infrastructure for the collection, consolidation, and dissemination of market data for exchange-listed national market system (NMS) stocks by updating and expanding the content of NMS market data, introducing a decentralized consolidation model under which competing consolidators would collect, consolidate and disseminate certain NMS information and requiring each SRO to make its NMS data available to certain entities.

Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
EO 13771 Designation: Independent agency 
CFR Citation: 17 CFR 240.3a51-1    17 CFR 240.13h-1    17 CFR 242.105    17 CFR 242.201    17 CFR 242.204    17 CFR 242.600    17 CFR 242.602    17 CFR 242.603    17 CFR 242.611    17 CFR 242.1000   
Legal Authority: 15 U.S.C. 78c    15 U.S.C. 78e    15 U.S.C. 78f    15 U.S.C. 78k-1    15 U.S.C. 78o    15 U.S.C. 78q    15 U.S.C. 78w(a)   
Legal Deadline:  None
Action Date FR Cite
NPRM  03/24/2020  85 FR 16726   
NPRM Comment Period End  05/26/2920 
Final Action  11/00/2020 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Michael Coe
Division of Trading and Markets
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-4875