SEC Orders Exchanges and FINRA to Submit Tick Size Pilot Program

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Explore:  FINRA SEC Securities

The SEC has ordered registered securities exchanges and FINRA to submit a tick size pilot program within 60 days.  The order specifies that the control group will be quoted at the current tick size increment, $0.01 per share, and trade at the increments currently permitted.   The first test group would be quoted in $0.05 minimum increments and trading could continue to occur at any price increment that is permitted today. There are two other test groups with a $0.05 minimum with different trading rules.  The pilot program would be in effect for a year.

The views expressed herein are the views of the blogger and not those of Stinson Leonard Street or any client.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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