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SEC RIN: 3235-AN22 Publication ID: Fall 2023 
Title: Disclosure of Order Execution Information 

The Division is considering recommending that the Commission amend existing requirements under the Securities Exchange Act of 1934 to update the disclosure required for order executions in national market system ("NMS") stocks. The Commission proposed to expand the scope of reporting entities subject to the rule that requires market centers to make available to the public monthly execution quality reports to encompass broker-dealers with a larger number of customers. The Commission also proposed to modify the definition of "covered order" to include certain orders submitted outside of regular trading hours and certain orders submitted with stop prices. In addition, the Commission proposed modifications to the information required to be reported under the rule, including changing how orders are categorized by order size as well as how they are categorized by order type. Finally, the Commission proposed to enhance the accessibility of the required reports by requiring all reporting entities to make a summary report available.

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: Undetermined  Unfunded Mandates: No 
CFR Citation: 17 CFR 242.600    17 CFR 242.605   
Legal Authority: 15 U.S.C. 78b    15 U.S.C. 78c(b)    15 U.S.C. 78k-1    15 U.S.C. 78q(a)    15 U.S.C. 78q(b)    15 U.S.C. 78w(a)   
Legal Deadline:  None
Action Date FR Cite
NPRM  01/20/2023  88 FR 3786   
NPRM Comment Period End  03/31/2023 
Final Action  04/00/2024 
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:
Kathleen Gross
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-5305