Final Rule

Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Orders

Public Comments

View Received Comments

Overview

The Securities and Exchange Commission (“Commission” or “SEC”) is adopting amendments to certain rules of Regulation National Market System (“Regulation NMS”) under the Securities Exchange Act of 1934, as amended (“Exchange Act”) to amend the minimum pricing increments for the quoting of certain NMS stocks, reduce the access fee caps, and enhance the transparency of better priced orders.

Prior Actions

Title
Order Granting Temporary Exemptive Relief, Pursuant to Section 36(a)(1) of the Securities Exchange Act of 1934 and Rules 610(f) and 612(d) of Regulation NMS, from Compliance with Rule 600(b)(89)(i)(F), Rule 610(c), Rule 610(d) and Rule 612 of...
Release Number
34-104172
SEC Issue Date

Resources

Exemptive Rule: SEC Issued Version (pdf 223.78 KB)

Last Reviewed or Updated: Oct. 31, 2025

Resources

Final Rule: SEC Issued Version (pdf 3.01 MB)
Final Rule: Federal Register Version
Press Release: SEC Issues Exemptive Order Regarding Compliance with Certain Rules Under Regulation NMS
Order Granting Temporary Exemptive Relief
Order Granting Partial Stay
Fact Sheet
Press Release

Details

File Number
S7-30-22
Rule Type
Final
Release Number
34-101070
SEC Issue Date
Effective Date

December 9, 2024

Compliance Date

See section VI., titled “Compliance Dates,” for further information on transitioning to the final rules.

Federal Register Publish Date
Document Citation

17 CFR Parts 242

RIN
3235-AN23