Proposed Rule
Proposed Quote Rule Amendment
Overview
The Securities and Exchange Commission ("Commission') today is proposing an amendment to Rule 11Ac1-1 ("Quote Rule') under the Securities Exchange Act of 1934. The proposed amendment reinforces the Commission's recent initiatives to foster market liquidity, transparency and efficiency. The amendment to the Quote Rule will mandate continuous two-sided quotations from over-the-counter ("OTC') market makers and exchange specialists that account for more than 1% of the transaction volume in a security included on the Nasdaq Stock Market ("Nasdaq security').
Details
File Number
S7-22-96
Rule Type
Proposed
Release Number
34-37620
SEC Issue Date
Aug. 29, 1996
Federal Register Publish Date
Sept. 12, 1996
Document Citation
61 FR 48333
RIN
3235-AH00
60 days after publication inthe Federal Register