Regulation NMS weathers bumpy start
NEW YORK – Regulation NMS took effect with a few hiccups in early March, but was largely uneventful, say exchange officials and industry insiders.
The regulations, set by the US Securities and Exchange Commission (SEC), called for the exchanges to be compliant by March 5, with brokers to follow suit on July 9.
Not all went smoothly. The New York Stock Exchange (NYSE) was not able to route to the ISE Stock Exchange, nor to the NASD alternative display facility (ADF), by the March 5 deadline, says a NYSE spokesperson, adding that the exchange plans to have full routing no later than April 5.
As a result, officials at the Direct Edge electronic
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