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Eric Stockland
Traders Magazine Online News

Incentivizing a Better Market

In this blog from IEX, the exchange announces a first-of-its-kind fee that is designed to improve all trading, including the experience of displayed orders - the Signal Fee.

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August 31, 2004

Is SEC Backtracking on Reg NMS?

By Gregory Bresiger

The SEC has been criticized by a market structure expert for making an exception to the trade-through rule. This would allow an automated market to trade through a non-automated market for up to a certain sized order. "The Commission seems to have backtracked on their Regulation NMS proposal," says Junius Peake, a professor at the University of Northern Colorado. "They have changed their definitions from an automated market to an automated quote." Peake went to work on Wall Street in 1951. "One of the first things I was taught was the difference between asking for a quote for a security, and asking for the market' for a security," he says. [See, tradersmagazine.com]