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The SEC rule establishing a pilot program (the "Pilot") to study transaction-based fees and rebates in certain National Market System stocks was published in the Federal Register.
within Intellectual Property, International Law, Food, Drugs, Healthcare and Life Sciences topic(s)
The SEC rule establishing a pilot program (the
"Pilot") to study transaction-based fees and rebates in
certain National Market System stocks was published in the Federal Register. The
temporary rule - Rule 610T of
Regulation NMS - will be in effect from April 22, 2019 until
December 29, 2023.
As
previously covered, the Pilot is designed to create two test
groups of exchanges, with one group barred "from offering
rebates and linked pricing" and the other group limited to a
fee cap of $0.0010. Data from the Pilot will be utilized to
facilitate an empirical assessment of the market impact of an
exchange's transaction-based fees and rebate structure.
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.
