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SEC Approves Tick-Size Pilot Program

Joe Mont | May 11, 2015

The Securities and Exchange Commission has approved a proposal by the national securities exchanges and the Financial Industry Regulatory Authority for a two-year pilot program that would widen the minimum quoting and trading increments, known as tick sizes, for stocks of some smaller companies.  The SEC plans to use the pilot program to assess whether wider tick sizes enhance the market quality of these stocks for the benefit of issuers and investors.

The SEC modified several provisions of the proposal submitted by the exchanges and FINRA to address concerns raised during the public comment process. Among those changes, the SEC extended the pilot program to two...

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