United States:
SEC Extends Exemptive Relief From Regulation NMS Sub-Penny Rule December 04, 2017
06 December 2017
Cadwalader, Wickersham & Taft LLP
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The SEC extended exemptive relief to Nasdaq BX, Inc.
from the minimum penny pricing increment requirements of
Rule 612 of
Regulation NMS. The relief allows Nasdaq BX to accept and rank
certain retail orders (priced greater than $1.00 per share) in
listed stocks in sub-penny increments as part of its Retail
Liquidity Program. The exemptive relief was previously set to
expire on December 1, 2017. Under the most recent extension, it
will not expire until June 30, 2018. The extension was granted in
connection with the extension of the Retail Liquidity Program.
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