The SEC's Proposal For Regulating 'Dark Pools'
The proposal consists of three separate changes to the current regulatory scheme, generally as follows:
- treating Indications of Interest (“IOIs”) that the SEC deems to be “actionable” as firm “bids” or “offers;”
- lowering the threshold at which alternative trading systems (“ATSs”) are obligated to publicly display their quotes in the NMS consolidated quotation data...
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