Translation to English Please????? (AFX Asia) SEC OKs rule proposal to change trade through rule SEC OKs rule proposal to change trade through rule WASHINGTON (AFX) -- The Securities and Exchange Commission unanimously a proved several rule proposals Tuesday designed to modernize U.S. markets, includ ng expanding the trade-through rule, which requires trades to be completed at th exchange posting the best price, to apply to all markets and not just the floor based exchanges. The SEC proposed rules would require NYSE to have an automated ystem in place that would allow faster markets to execute trades in NYSE-listed tocks automatically. Also, the changes would allow faster markets to trade throu h slower markets like the NYSE up to five cents off the best price listed, depen ing on the stock's price. The ECNs would be prohibited from trading through othe fast markets but would be permitted to match each other's best prices. The rule proposed would incorporate an "opt-out" provision to the trade through rule for customers who wish to bypass it altogether in order to execute their orders in a y manner they wish, regardless of price. The SEC also proposed a cap on access f es that some markets add on to quotes at two-tenths of a cent.
folks using ameritrade/etrade will be screwed big time by the repeal of this rule. Its just another way for Nite to screw with retail market orders filling at 3 or 5 cents below/above the nbbo.