Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Orders

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission 17 CFR Part 242 [Release No. 34-101070; File No. S7-30-22] RIN 3235-AN23 ( printed page 81620) AGENCY: Securities and Exchange Commission. ACTION: Final rule. SUMMARY: The Securities and Exchange Commission (“Commission” or “SEC”) is adopting amendments to certain rules of Regulation National Market System (“Regulation NMS”) under the Securities Exchange Act of 1934, as amended (“Exchange Act”) to amend the minimum pricing increments for the quoting of certain NMS stocks, reduce the access fee caps, and enhance the transparency of better priced orders. DATES: Effective Date: December 9, 2024. Compliance dates: See section VI., titled “Compliance Dates,” for further information on transitioning to the final rules. FOR FURTHER INFORMATION CONTACT: Kelly Riley, Senior Special Counsel, Johnna Dumler, Special Counsel, Steve Kuan, Special Counsel, Marc McKayle, Special Counsel, Leigh Roth, Special Counsel, and Alba Baze, Attorney-Advisor, at (202) 551-5500, Office of Market Supervision, Division of Trading and Markets, Commission, 100 F Street NE, Washington, DC 20549. SUPPLEMENTARY INFORMATION: The Commission is adopting amendments to the following rules under Regulation NMS: Commission reference CFR citation (17 CFR) Rule 600(b)(69) § 242.600(b)(69) Rule 600(b)(89) § 242.600(b)(89) Rule 600(b)(93) § 242.600(b)(93) Rule 603 § 242.603 Rule 6…