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Market Structure

SEC Commissioner Peirce
"The Commission’s analysis about the forgone price improvement, the so-called 'competitive shortfall,' ignores the fact that the current market is not static"
SEC Commissioner Uyeda
"The proposing release acknowledges that wholesalers do generally provide some price improvement relative to national securities exchanges. So what is the need for the proposed rule, ...
SEC Chairman Gary Gensler
"The proposal would implement a modernized, more-flexible definition for round lots"
SEC Commissioner Hester Peirce
"The Commission may need to give further thought to its theory of competition in this area of our regulations"
SEC Commissioner Uyeda
"I am open to alternative ways to update these requirements and the subject matter deserves further exploration through the public comment process"
SEC Commissioner Hester Peirce
"The proposal appears to be a reasonable attempt to address deficiencies of the current Rule 605, but the Commission will still need input from market ...
SEC Commissioner Crenshaw
"The changes to the minimum tick size make updating the access fees more urgent, because if the fees stay the same while the minimum tick ...
SEC Commissioner Uyeda
"While I do not necessarily agree with all parts of the proposal, it will commence a healthy process of public comment necessary to appropriately improve ...
SEC Commissioner Lizarraga
"The current tick size and access fees were both adopted as part of Regulation National Market System in 2005, known as Regulation NMS.  Updates to ...
Charging Bull sculpture in New York City
This SEC proposal would adopt variable minimum pricing increments for the quoting and trading of NMS stocks, reduce the access fee caps, and enhance the ...

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