SEC Releases Proposed Rule on Volume-Based Exchange Transaction Pricing for NMS Stocks

The SEC has released a proposed rule that would amend the Securities Exchange Act of 1934 to “prohibit national securities exchanges from offering volume-based transaction pricing in connection with the execution of agency-related orders in certain stocks.” In addition, national securities exchanges would be required “to have certain anti-evasion rules and written policies and procedures and disclose certain information if they offer volume-based transaction pricing for member proprietary volume in NMS stocks.”

For more information, see the press release and fact sheet — as well as the statements by SEC Chair Gary Gensler and Commissioners Jaime Lizárraga and Mark Uyeda — on the SEC’s Web site.