SEC Proposes Rescinding Market Structure Rules, Estimates $54.2M–$77M Annual Cost Savings

The U.S. Securities and Exchange Commission has proposed rescinding Regulation NMS Rules 611 and 610(e), which govern order routing and quote protection in traditional U.S. equity markets. According to the SEC, the proposal is intended to simplify market structure, reduce trading complexity, and lower costs for market participants. The agency estimated the rule changes could save exchanges, alternative trading systems, broker-dealers, and OTC market makers between $54.2 million and $77 million annually in compliance and routing infrastructure costs. The proposal will be open for a 60-day public comment period after publication in the Federal Register and is not yet final.
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