Securities
SEC gives market firms a year more on pricing rules
The SEC pushed the deadline to Nov. 1, 2027 for lower access-fee caps, smaller quote increments and new round-lot disclosure rules. Exchanges, brokers and trading systems get more time to rework the software behind everyday trades.
The Securities and Exchange Commission gave market firms extra time to comply with its newest market-structure changes. The temporary relief delays the rules until Nov. 1, 2027, giving exchanges, brokers and alternative trading systems more room to update pricing, fee and disclosure systems.
- Compliance now runs to Nov. 1, 2027.
- The delay covers price increments, access fees and round-lot disclosures.
- Exchanges and brokers get more time to rework trading software.
- Brokers, exchanges and alternative trading systems got a year more to adapt to the Securities and Exchange Commission’s latest market-structure changes in federal trading rules
- The agency granted temporary exemptive relief that pushes full compliance to the first business day of November 2027, giving firms more time to update the systems that quote prices, collect access fees and display order sizes
Brokers, exchanges and alternative trading systems got a year more to adapt to the Securities and Exchange Commission’s latest market-structure changes in federal trading rules. The agency granted temporary exemptive relief that pushes full compliance to the first business day of November 2027, giving firms more time to update the systems that quote prices, collect access fees and display order sizes.
The order covers Regulation NMS, the SEC’s rulebook for the national market system, and pauses compliance with a new minimum pricing increment of $0.005 for stocks priced at $1 or more, lower access-fee caps and related round-lot disclosure requirements.
The code behind a stock quote
The commission said the crowded 2026 calendar left firms facing several technical rewrites at once. Without extra time, exchanges, brokers and dealers would have had to change pricing, routing, market-data and compliance software together, a kind of back-office crunch that can spill into how orders are handled on screen.
The relief is temporary, not a rewrite of the rules themselves. It gives market operators room to make the changes in sequence instead of all at once, with Nov. 1, 2027 as the new target date.