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Article: Market Centers Prepare for Reg NMS: Deadline Delay Likely As NYSE's Hybrid and.(National Market System)(New York Stock Exchange)
- Article from:
- Securities Industry News
- Article date:
- March 27, 2006
- Author:
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Securities and Exchange Commission's compliance deadline for key trading-related provisions of Regulation NMS is about three months away, and executives at stock exchanges, other market centers and their technology suppliers believe the target will be moving. Another, less-burdensome and -controversial part of Reg NMS, the subpenny quote rule, went into effect Jan. 31 after the earlier, August deadline was deemed unfeasible.
The same could happen with the forthcoming order protection, fair access and market data mandates of Reg NMS. SEC commissioner and former director of market regulation Annette Nazareth has publicly conceded the possibility as the industry ...