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SEC RIN: 3235-AN29 Publication ID: Fall 2024 
Title: Volume-Based Exchange Transaction Pricing for NMS Stocks 
Abstract:

The Division is considering recommending that the Commission adopt a new rule under the Securities Exchange Act of 1934 to address concerns with national securities exchange volume-based transaction pricing in NMS stocks. The Commission proposed a new rule to prohibit national securities exchanges from offering volume-based transaction pricing in connection with the execution of agency-related orders in certain stocks. Additionally, the proposal would require the exchanges to 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: Final 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 
Final Action  10/00/2025 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
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