SEC Proposes Scrapping Reg NMS Trade-Through Rule In Move To Ease Market Complexity

The SEC’s "Trade-Through" Proposal: A Potential Unlock for DeFi Stocks

The U.S. Securities and Exchange Commission (SEC) has formally proposed the elimination of the long-standing "trade-through" rule.

US – A New Era For Equity Market Structure: SEC Proposes Rescinding Regulation NMS’s Trade-Through Rule And Locked/Crossed Market Prohibition.

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SEC Proposes Scrapping Reg NMS Trade-Through Rule In Move To Ease Market Complexity

The SEC said it proposed rescinding Regulation NMS Rules 611 and 610(e), reopening a debate over whether the US trade-through rule still helps markets or mainly adds complexity. TL;DR The SEC has proposed rescinding Rule 611, the trade-through rule, and Rule 610(e). The change could reduce legacy equity-market routing complexity if finalized. Tokenized equity and blockchain-based ATS builders may benefit indirectly from a simpler execution fram…