SEC to CLOBber Industry?
FRONT PAGE: NEWS ANALYSIS
NEW YORK—U.S. markets regulator, the Securities and Exchange Commission (SEC) appears to be pushing the industry toward a virtual, centralized limit order book with the latest version of its proposed Regulation NMS (National Market System), say observers.
The SEC voted 4-1 last week to seek public comment on the "reproposed" Reg NMS changes, which now includes revisions covering the trade-through rule, intermarket access, sub-penny pricing, market data and asset-backed securities.
For the trade
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