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SEC RIN: 3235-AN29 Publication ID: Fall 2023 
Title: Volume-Based Exchange Transaction Pricing for NMS Stocks 
Abstract:

The Commission proposed a new rule under the Securities Exchange Act of 1934 to prohibit national securities exchanges from offering volume-based transaction pricing in connection with the execution of agency-related orders in certain stocks. If exchanges offer such pricing for their members’ proprietary orders, the proposal would require the exchanges to adopt rules and written policies and procedures related to compliance with the prohibition, as well as disclose, on a monthly basis, certain information including the total number of members that qualified for each volume tier during the month.

 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously 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  11/06/2023  88 FR 76282   
NPRM Comment Period End  01/05/2024 
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