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SEC contradicts itself on exchange pricing, say firms

Cboe warns ban on volume-based rebates will not improve pricing for investors

Securities and Exchange Commission
Photo: Andriy Blokhin/Alamy Stock Photo

The US Securities and Exchange Commission is doing battle with itself on equity market structure reforms, according to market participants. The regulator last month issued a proposal that would prohibit national securities exchanges from offering volume-based transaction fees on agency orders. But some in the industry think the rule will not achieve its goals, and may instead collide with some of

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