Series 24: Access To Quotations

Taken from our Series 24 Online Guide Access to Quotations

SEC Rule 610 establishes uniform access to displayed quotes of all self-regulatory organization trading centers. It requires that market centers provide equal electronic access to members and non-members of its center. For example, the NYSE could not offer faster order execution to its own members. The rule also caps the fees for access. Access for non-subscribers to ECNs must not exceed $0.003 per share for NMS stocks priced $1 or more. For NMS stocks less than $1, the cap is 0.3% of the quotation price per share. SROs must establish procedures and enforce rules that prevent market centers from displaying quotes that lock or cross protected quotes of other

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