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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. |
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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 |
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Timetable:
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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 |