SIFMA
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SEC Rule 605 is Final, But More is Pending with Market Structure
With the SEC approving updates to Rule 605 on order disclosure for stock trading, the clock will soon begin ticking on a new compliance project with more granular execution quality data. But industry observers are speculating that the SEC could move forward with other equity market structure reforms, resulting in overlapping timelines.
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What’s Next for the SEC’s Equity Market Structure Proposals in 2024?
Heading into 2024, US broker-dealers are anticipating a decision by the SEC on its four-equity market structure proposals, a set of rules which seek to revamp stock trading for both retail and institutional investors. But an additional proposal to ban volume-based pricing tiers could inject more complexity into the regulatory outlook for 2024.