Order Protection Rule
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Top Themes Heading into 2026: Market Structure, Liquidity and Regulations
Looking back while heading into 2026, several themes have stirred discussion across the trading landscape and industry panels. From the rise of hosted pools in ATSs to the evolution of Treasury market structure, bilateral liquidity has …
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The Order Protection Rule: Is an Equity Market Structure Shake-Up Ahead?
As brokers and asset managers look ahead to 2026, the Securities and Exchange Commission is reconsidering the Order Protection Rule under Regulation NMS – a move that could reshape U.S equity market structure and redefine …
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Exchange Landscape Gearing Up for Expansion in 2020
As a sign of the evolving U.S. equity trading landscape, two startups and one options exchange operator plan to launch as many as three new exchange platforms in 2020, and a fourth could be waiting in the wings. Emphasizing the need for competition and innovation in US equity market structure, new entrants have downplayed the increased connectivity costs and additional fragmentation of orders across trading venues.
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Order Protection Rule Tug-of-War
by Ivy Schmerken, Editorial Director There is still uncertainty around the fate of the Order Protection Rule, a key rule governing U.S. stock trading that has led to more complexity, speed and order types, but …