Regulatory Alerts2023-01-20 | 2022-27614Added · Updated
Disclosure of Order Execution Information
The Securities and Exchange Commission proposes amendments to Regulation NMS to modernize order execution disclosure requirements for national market system stocks. The proposal expands reporting obligations to include larger broker-dealers and broadens the scope of covered orders to capture execution quality data for fractional shares, odd-lots, and stop orders. Additionally, the Commission seeks to enhance metric granularity by requiring millisecond-level timestamps and summary reports to improve market transparency and competition.
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