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SEC RIN: 3235-AN29 Publication ID: Spring 2023 
Title: ●Volume-Based Exchange Transaction Pricing 
Abstract:

The Division is considering recommending that the Commission propose a new rule under the Securities Exchange Act of 1934 to address concerns with national securities exchange volume-based transaction pricing in NMS stocks by requiring exchanges to make periodic public disclosures about those pricing models to facilitate greater transparency of their impact and to mitigate conflicts of interest and facilitate competition among broker-dealers by prohibiting volume-based pricing by exchanges for agency-related volume.

 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 17 CFR 240.6b-1   
Legal Authority: 15 U.S.C. 78b    15 U.S.C. 78c    15 U.S.C. 78f    15 U.S.C. 78k    15 U.S.C. 78k-1    15 U.S.C. 78o    15 U.S.C. 78q    15 U.S.C. 78s    15 U.S.C. 78w(a)    15 U.S.C. 78mm   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  10/00/2023 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Undetermined 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Richard Holley
Division of Trading and Markets
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-5614
Email: holleyr@sec.gov