Speech by SEC Commissioner:
Statement at Open Meeting to Propose Amendments to Rule 610 of Regulation NMS (Options Access)
Commissioner Troy A. Paredes
U.S. Securities and Exchange Commission
April 14, 2010
Thank you, Chairman Schapiro.
The proposal before us addresses concerns regarding access to quotations in listed options and would cap fees for such access. The release includes a thorough discussion of a range of relevant matters. I support the proposal and look forward to the comments we will receive. I am particularly interested in comments that (1) explore the similarities and differences between the options and equities markets and (2) address the extent to which the proposed rule changes might impact competition among business models. As always, I encourage commenters to submit data, if available.
In concluding, I want to thank the staff — particularly those from the Division of Trading and Markets and the Division of Risk, Strategy, and Financial Innovation — for their hard work on this release. I appreciate your efforts.