United States:
SEC Extends Exemptive Relief From Regulation NMS Sub-Penny Rule
16 June 2017
Cadwalader, Wickersham & Taft LLP
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The SEC extended exemptive relief to NYSE, NYSE MKT and NYSE Arca (collectively, the
"Exchanges") from the minimum pricing increment
requirements of
Rule 612 of
Regulation NMS. Originally set to expire on June 30, 2017, the
relief allows the Exchanges to accept and rank certain
"retail" orders in listed stocks in sub-penny increments
as part of the Exchanges' respective Retail Liquidity Programs.
The exemptive relief now will be extended to December 31, 2017.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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