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SEC | RIN: 3235-AM57 | Publication ID: Fall 2024 |
Title: Order Competition Rule | |
Abstract:
The Division is considering recommending that the Commission amend the regulation governing the national market system ("NMS") under the Securities Exchange Act of 1934 to add a new rule designed to promote competition as a means to protect the interests of individual investors and to further the objectives of an NMS. The rule would prohibit a restricted competition trading center from internally executing certain orders of individual investors at a price unless the orders are first exposed to competition at that price in a qualified auction operated by an open competition trading center. The rule would also include limited exceptions to this general prohibition. In addition, the Division is considering recommending that the Commission amend the regulation governing the NMS to add new defined terms included in the rule. |
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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: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 17 CFR 242.600 17 CFR 242.605 ... (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: 15 U.S.C. 78c(b) 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. 78o-5 15 U.S.C. 78q(a) 15 U.S.C. 78q(b) 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: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Dan Gray Division of Trading and Markets Securities and Exchange Commission 100 F Street NE, Washington, DC 20549 Phone:202 551-5603 Email: grayd@sec.gov |