27 May 2015
Your browser is unable to support Flash files.

Nyse Euronext secures SEC approval for retail liquidity programme

06 July 2012  |  3937 views  |  0 stock quotes

The Securities and Exchange Commission (SEC) has given Nyse Euronext the green light to pilot a programme designed to attract retail investors from dark pools.

The retail liquidity programme, set to launch next month, will offer investors Nyse and Nasdaq listed stock quotes in increments of less than a penny, enabling them to get better prices.

This sub-penny pricing on exchanges is usually prohibited under SEC rules but not to other trading venues, which has meant many retail investors have turned to dark pools.

The SEC says the move - which is expected to be copied by other exchanges - will help promote competition but both the Securities Industry and Financial Markets Association and the Securities Traders Association have objected.

Joseph Mecane, EVP, Nyse Euronext, says: "Providing price improvement for retail orders within an exchange environment affords individual investors new economic incentives and ensures greater transparency, liquidity and competition throughout the US cash equities marketplace."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

28 March, 2012
01 February, 2012
04 February, 2011

Related company news

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Cash overtaken by non-cash payments in the...
7683 views comments | 49 tweets | 31 linkedin
UK opts out of European online payments se...
7317 views comments | 21 tweets | 16 linkedin
Bigger banks may have to set up their own...
6150 views comments | 39 tweets | 32 linkedin
JPMorgan Chase puts data to use with new t...
4483 views comments | 15 tweets | 6 linkedin
Postbank trials HCE mobile payments
4419 views comments | 9 tweets | 8 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job