MARKET STRUCTURE AND THE RETAIL INVESTOR - SEC
On June 8, U.S. Securities and Exchange (SEC) Chairman, Gary Gensler, provided commentary on plans to implement substantial changes to the rules governing U.S. stock market operations in an effort to “level the playing field” for retail investors. He identified six areas where rules could be updated to promote greater efficiencies: Minimum Pricing Increment (Tick Size); National Best Bid and Offer (NNBO); Disclosure of Order Execution Quality; Best Execution; Enhancing Order-by-Order Competition; Payment for Order Flows, Exchange Rebates and Related Access Fees.