Equity Market Structure
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FIA PTG recommends repealing order protection rule and enhancing best execution requirements
FIA PTG sent a letter to the SEC today recommending a comprehensive reform of equity market structure and a repeal of Reg NMS Rule 610.d (the Access Rule) and Rule 611 (the Order Protection Rule). For the past few years, FIA PTG has been advocating for comprehensive reform of equity market structure and calling for a review of the Access Rule and Order Protection Rule.
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FIA PTG submits second round of comments on Nasdaq ELO
FIA PTG submitted a second round of comments to the SEC in response to the Nasdaq Extended Life Priority Order Attribute (ELO).
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FIA PTG opposes NYSE speed bump
FIA PTG submitted comments to the SEC opposing the delay mechanism proposed by NYSE MKT. The NYSE MKT speedbump introduces an intentional delay in protected quotes which creates undue complexity in markets and amplifies the risk of market disruptions during periods of high volatility.
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FIA PTG opposes another speed-bump and calls for holistic market review
FIA PTG submitted a comment letter to the Securities and Exchange Commission (SEC) in response to the Chicago Stock Exchange, Inc. (CHX) proposal to introduce a Liquidity Enhancing Access Delay (“LEAD”).
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FIA PTG expands on problems with proposed speed bump at CHX
FIA submitted a comment letter today in response to the Securities and Exchange Commission's (SEC) call for additional feedback on a proposal by the Chicago Stock Exchange, Inc. (CHX) to introduce a new type of speed bump, the Liquidity Taking Access Delay (LTAD). FIA PTG's original letter to the SEC argued that speed bumps are fundamentally incompatible with Reg NMS and, further, that the LTAD is not designed to protect investors and the public interest, would permit unfair discrimination, and would impose unnecessary, inappropriate burdens on competition.
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FIA PTG details concerns with Nasdaq ELO proposal
FIA PTG submitted comments to the SEC regarding Nasdaq's proposal to introduce a new priority for displayed orders, the Extended Life Priority Order Attribute (ELO).
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FIA PTG: Speed bumps are fundamentally incompatible with Reg NMS
FIA PTG submitted a comment letter to the Securities and Exchange Commission (SEC) today in response to a proposal from the Chicago Stock Exchange, Inc. (CHX) to introduce a new type of speed bump, the Liquidity Taking Access Delay (LTAD).
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FIA PTG comments in support of SEC Disclosure of Order Handling Information Proposal
FIA PTG responded to the SEC's proposed rule on Disclosure of Order Handling Information. The rule would require broker-dealers to disclose additional information to customers about the handling of institutional orders. Additionally, the SEC is proposing to enhance current retail order disclosures.
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FIA PTG comments to the SEC on amended IEX application and proposed interpretation of Reg NMS
FIA PTG submitted comments to the Securities and Exchange Commission (SEC) today on the Commission's Proposed Interpretation Regarding Automated Quotations Under Regulation NMS and to further comment on IEX's amended application for registration as a national securities exchange.
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FIA PTG Comment Letter in Response to Amended IEX Application for Registration
FIA PTG submitted a second comment letter to the Securities and Exchange Commission regarding amendments to the IEX application for registration as a National Securities Exchange urging the Commission to re-open the comment period in light of the recent IEX amendment to afford the public adequate opportunity to review and provide feedback on IEX’s proposed changes.
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