SEC Open Meeting Agenda
|Item 1:||Regulation NMS|
Office: Division of Market Regulation
Staff: Yvonne Fraticelli (Reg NMS Proposal); Heather Seidel and Jennifer Colihan (Trade-Through Proposal); John S. Polise, Patrick Joyce, and Ann E. Leddy; (Market Access Proposal); Kevin Campion and Ronesha Butler (Sub-Penny Quoting Proposal); or Sapna Patel (Market Data Proposal).
The Commission will consider whether to publish for public comment a release setting forth five proposals designed to enhance and modernize the national market system. In particular, the Commission will consider whether to propose the following rules and amendments:
A. Regulation NMS, which would redesignate the national market system rules adopted under Section 11A of the Securities Exchange Act of 1934 (“Exchange Act”) as Regulation NMS, and would include a new definitional rule, proposed Rule 600, that would designate reported securities as national market system securities and make certain other technical changes, and include all of the defined terms used in the national market system rules;
B. Rule 610 of Regulation NMS, which would modernize the terms and standards of access to quotations and the execution of orders in equity securities in the national market system, and make conforming changes to Rule 301 of Regulation ATS;
C. Rule 611 of Regulation NMS, which would require market centers to establish, maintain, and enforce policies and procedures designed to prevent the execution of trade-throughs in their markets;
D. Rule 612 of Regulation NMS, which generally would prohibit market participants from accepting, ranking, or displaying orders, quotes, or indications of interest in a pricing increment finer than a penny in any NMS Stock; and
E. amendments to the three joint industry plans under which consolidated market data for equity securities is disseminated to the public that would modify the formulas for allocating plan net income and create non-voting advisory committees, and amendments to current Exchange Act Rules 11Aa3-1 and 11Ac1-2 (redesignated as Rule 601 and 603 of Regulation NMS) that would modify the requirements for consolidation and display of market data.
For further information, please contact Yvonne Fraticelli at (202) 942-0197 (Reg NMS Proposal); Jennifer Colihan at (202) 942-0735 (Trade-Through Proposal); Patrick Joyce at (202) 942-0779 (Market Access Proposal); Ronesha Butler at (202) 942-0791 (Sub-Penny Quoting Proposal); or Sapna Patel at (202) 942-0166 (Market Data Proposal).
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