SEC adopts trade-through rule
Washington, DC – The US Securities and Exchange Commission (SEC) has adopted the trade-through rule, the segment of the National Market Structure (NMS) reforms that requires all exchange-listed and Nasdaq securities to be traded at best prices
In adopting the rule on April 6 in a vote of 3-2, SEC chairman William Donaldson, a Republican, took sides with the two democrats on the Commission.
Donaldson believes the trade-through rule will strengthen stock trading rules by requiring trading centres to obtain the best prices for investors.
In his testimony on the state of the securities industry, Donaldson told Congress in March that the
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