📈FINRA Proposes Changes to IntelligentCross ATS Match Priority Criteria
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Partial Amendment No. 1 to Proposed Rule Change Relating to Alternative Display Facility New Entrant
Summary
The SEC announced a partial amendment regarding FINRA's proposed rule change to include IntelligentCross ATS in the Alternative Display Facility. This amendment involves modifying the match priority criteria to enhance the accessibility and efficiency of displayed liquidity, responding to concerns raised during the public comment period. The modifications aim to clarify trading processes and enhance competitive market practices.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The regulatory text relates to proposed changes in match priority criteria for an alternative trading system (IntelligentCross ATS), which could impact market accessibility and trading efficiency for businesses. Companies relying on these systems must ensure compliance and adapt to changes in trading practices.