Celent Reviews the Pitfalls of Reg NMS
INDUSTRY ISSUES
Market researcher Celent Comm unications has questioned whether the changes proposed by the Securities and Exchange Commission’s Regulation National Market System (Reg NMS) will actually produce the desired results.
One of the key changes allows exchanges and broker-dealers to sell their market data directly to market participants rather than limited distribution to the CTA’s consolidated feed.
Another section would change the formula by which exchanges are allocated data revenues. The SEC says
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