Reg NMS Is a Winner, SEC Says
Traders Magazine, March 2008
The Securities and Exchange Commission, despite trader complaints about market fragmentation, pronounced Regulation NMS a triumph. According to an analysis conducted by SEC economists, key market metrics such as speed, width of spreads and depth have all improved since Reg NMS went into effect. On top of that, institutional trading costs, as measured by independent researchers, came down as well, according to a top SEC official.
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