Comment Deadline Set for SEC Proposal on NMS Pricing Increments for Quoting and Trading

Comments on an SEC proposal amending Regulation NMS to adopt certain minimum pricing increments for the quoting and trading of NMS stocks are due by March 31, 2023. The Notice was published in the Federal Register.

The proposal would amend (i) Regulation NMS Rule 612 ("Minimum pricing increment") to reduce the minimum pricing increments for NMS securities to fractions of a penny on the bases of the time weighted average quoted spread for the relevant NMS stock, and (ii) NMS Rule 610 ("Access to quotations") to require certain access cap fees (see previous coverage).