Trade Through Rule

Discussion in 'Order Execution' started by ssternlight, Feb 24, 2004.

  1. 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.
  2. 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.

  3. :D :D :D :D :D :D :D :D :D :D
  4. cashonly

    cashonly Bright Trading, LLC

    Is that part in reference to ECN fees?