OPR: All Or Nothing Or Something In Between?

The SEC on June 11 proposed changes to Rule 611 of Reg NMS, arguing the current order protection framework is increasing routing costs and market fragmentation. The proposal is a meaningful regulatory development for U.S. market structure and trading venues, though the article provides no specifics on implementation timing or the size of the impact.

Analysis

The SEC on June 11 proposed changes to Rule 611 of Reg NMS, arguing the current order protection framework is increasing routing costs and market fragmentation. The proposal is a meaningful regulatory development for U.S. market structure and trading venues, though the article provides no specifics on implementation timing or the size of the impact.