Inside FINRA's Proposed Rules To Illuminate 'Dark Pools'

Law360, New York (October 28, 2013, 1:18 PM EDT) -- The Financial Industry Regulatory Authority filed a rule proposal with the U.S. Securities and Exchange Commission on September 30 that would impose reporting requirements on alternative trading systems (ATSs), including dark pools.[1]

Dark pools are a type of ATS in which participants can transact their trades without displaying quotations to the public.[2] Pursuant to the proposed rules, each ATS must report its aggregate weekly volumes and number of trades on a security-by-security basis to FINRA and indicate which trades take place on ATS platforms.

Although the...
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