Federal Register: SEC Requests Comments on FINRA Proposal to Amend Tick Size Pilot Trade-at Exceptions

FINRA proposed to modify the quoting and trading requirements relating to block-size exceptions, and the use of Intermarket Sweep Orders and Trade-at Intermarket Sweep Orders.

FINRA proposed modifying certain data collection requirements of the Regulation National Market System Plan to Implement a Tick Size Pilot Program.

FINRA notified member firms that, effective October 3, 2017, they are required to use the existing Intermarket Sweep Order trade reporting modifier when reporting trades to a FINRA facility that qualifies for the ISO exception to the Trade-at prohibition, under the plan to implement the tick size pilot program.

The SEC solicited comment on a FINRA proposal to create a new Academic Corporate Bond TRACE Data product that would be available to institutions of higher education. The FINRA proposal was published in the Federal Register.

The SEC Division of Trading and Markets granted a limited exemption to NYSE MKT LLC from certain quoting and trading requirements in the SEC's Tick Size Pilot Program.

The SEC approved a proposal by FINRA and the national securities exchanges (the "Exchanges") for a two-year pilot program. The program would widen the minimum quoting and trading increments – or tick sizes – for the stocks of certain smaller companies.

The SEC issued and requested public comment on a tick test pilot program, as proposed by FINRA and the exchanges.

The details of the pilot program include: