Blogs

At the Security Traders Association (STA) 89th Annual National Market Structure Conference held in Washington DC in October, brokerage executives reacted to the concept of auctions as well as other ideas on SEC Chair Gary Gensler’s agenda to revamp equity market structure. But the industry’s top wholesalers and brokerage executives speaking at STA emphasized that the stock market is functioning well for retail investors and cautioned against making a litany of changes that could lead to worse results.

The revamped SEC 606 regulation requires more extensive disclosures by broker dealers about the handling and routing of institutional customer orders including the average rebates the broker received from, and fees the broker paid to, trading venues.