US Equity and Related Statistics
SIFMA Research tracks U.S. equities markets including issuance (IPOs, etc.), trading (ADV), index prices and volatility levels (the VIX). Data…
OCC Intraday Risk Charge
SIFMA provided comments to the U.S. Securities and Exchange Commission (SEC) in response to Options Clearing Corporation's (OCC) initial proposal…
JLN: SIFMA’s Ellen Greene Discusses Key Concerns and Expresses Optimism at Options Industry Conference
In this post, SIFMA's Ellen Greene, managing director of equity and options market structure, shared insights on key industry concerns…
Listed Options Market Structure – Looking Ahead
SIFMA's Ellen Greene moderated the panel discussion, "Navigating the Markets During an Election Year", at the 2024 Options Industry Conference…
Top Five Takeaways from SIFMA’s 2023 Market Structure Conference
In this episode of The SIFMA podcast, Joe Siedel, SIFMA's Chief Operating Officer, and colleague Ellen Greene, Managing Director of…
Why Rule 605 Must Be Updated Before Other Rulemaking: A Video Blog
The structure of our vibrant and liquid equity market benefits investors and issuers alike. Yet, the SEC recently issued several…
Options and Equity Market Structure – A Deep Dive
Recently, SIFMA’s Ellen Greene participated in the Washington Outlook panel discussion at the 2023 Options Industry Conference in Nashville.
SIFMA Statement on SEC Equity Market Structure Proposals
Washington, D.C., December 14, 2022 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr.…
The 2022 Market Structure Week Debrief
Recently, SIFMA hosted our annual Listed Options Symposium and Equity Market Structure Conference. Across the two days, we gained insights…
Supplemental Comments on CAT Executed Share Funding Model
SIFMA provided further comments to the U.S. Securities and Exchange Commission (SEC) in response to the Commission’s order to extend…
SIFMA Opposes Limitation of Liability Provisions in CAT Reporter Agreement
Washington, D.C., June 30, 2022 – In a comment letter filed today with the Securities and Exchange Commission (SEC), SIFMA…
CAT Executed Share Funding Model
SIFMA provided comments to the U.S. Securities and Exchange Commission (SEC) on the proposed amendment to the National Market System…
SIFMA Supplemental Comments on SEC Reg ATS Proposal
SIFMA provided further comments to the U.S. Securities and Exchange Commission (SEC) on the proposed amendments to the Exchange Act…
SIFMA Statement on Equity Market Structure Reform
Washington, D.C., June 8, 2022 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr.…
SIFMA Statement on the Delay of the CAT Customer and Account Information System
Washington, D.C., May 27, 2022 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr.…
SIFMA Statement on Decision on SEC’s Market Data Infrastructure Rule
Washington, D.C., May 24, 2022 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr.…
Second Request for SIP Odd Lot Quotation Proposals
SIFMA provided comments to Nasdaq Unlisted Trading Privileges Plan Participants and Consolidated Quotation Plan Participants regarding their proposal for the…
Equity Market Structure: An Update at OIC
In prepared remarks at the Options Industry Conference, SIFMA's Ellen Greene touches on the resiliency of the markets through COVID-19…
The SEC’s Unfinished Business: Protecting Investors’ Personal Information in the CAT
The Securities and Exchange Commission (SEC) is pursuing a wide-ranging and ambitious agenda to significantly change existing market rules and…
SIFMA Testimony at House Subcommittee Hearing Urges Exchange Reform
Washington, D.C., March 30, 2022 – In testimony delivered today, Ellen Greene, SIFMA managing director, equity and options market structure,…
CAT Data Security: The Clock is Ticking
The SEC has proposed new cybersecurity risk management rules for registered investment advisers and investment companies. This follows a steady…
SIFMA Statement on SEC Disapproval of CAT Limitation of Liability Proposal
Washington, D.C., November 1, 2021 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr.…
SIFMA Statement on SEC Staff Report on Equity and Options Market Structure in Early 2021
Washington, D.C., October 18, 2021 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr.…
The Consolidated Audit Trail – A Mid-Year Update
SIFMA members have consistently supported the goals of the Consolidated Audit Trail (CAT) since its inception and have been diligently…
SIFMA Statement on Bill Prohibiting the SEC from Requiring Collection of PII Under the CAT
Washington, D.C., April 20, 2021 – SIFMA today released the following statement from president and CEO Kenneth E. Bentsen, Jr.…
SIFMA Statement on Bill Prohibiting the SEC from Requiring Collection of PII Under the CAT
Washington, D.C., March 18, 2021 – SIFMA today released the following statement from president and CEO Kenneth E. Bentsen, Jr.…
Podcast: Catching Up on the CAT
In the latest in SIFMA’s podcast series, SIFMA president and CEO Kenneth E. Bentsen, Jr. is joined by Ellen Greene,…
Q&A: US Equity Market Structure
The U.S. stock market is largest in the world – nearly three and a half times the next largest, China…
The Consolidated Audit Trail and Customer PII: Why take the risk
SIFMA’s members continue to diligently work to meet industry obligations implement the CAT despite our concerns over the amount of…
SIFMA Cautions Liability Provisions Under CAT NMS Plan Will Harm Investors
Washington, D.C., February 25, 2021 – A new report analyzing the economic impact of the proposed NMS Plan governing the…
Economic Analysis of Proposed Amendment to National Market System Plan Governing the Consolidated Audit Trail
SIFMA submitted the following White Paper to the SEC prepared by Professor Craig M. Lewis entitled “Economic Analysis of Proposed…
SEC Order Instituting Proceedings to Approve or Disapprove a National Market System Plan Regarding Consolidated Equity Market Data
SIFMA provided comments to the SEC on the Commission’s above-referenced order (“Order”) regarding the proposal filed by the national securities…
Pause the CAT to Reconsider Customer Privacy Implications and Security of the Data
SIFMA has requested that the Securities and Exchange Commission (SEC) immediately order a temporary pause related to the further development…
SIFMA Asks SEC to Pause Activity in the CAT to Assess Need to Collect Investors’ Personally Identifiable information
Washington, D.C., January 28, 2021 – In a letter to the Securities and Exchange Commission (SEC) today, SIFMA requested that…
SIFMA Opposes Proposal to Shift CAT Data Breach Liability Away from SROs
New York, NY, January 27, 2021 – In a comment letter filed today with the SEC, SIFMA strongly opposes the…
SIFMA Statement on the SEC’s Adoption of Market Data Infrastructure Rules under Regulation NMS
Washington, D.C., December 9, 2020 – SIFMA today issued the following statement from SIFMA president and CEO Kenneth E. Bentsen,…
Nasdaq Proposed Rule Change to Lower the Enterprise License Fee for Broker-Dealers
SIFMA provided comments to the U.S. Securities and Exchange Commission (“Commission” or “SEC”) on the proposal filed by The Nasdaq…
National Market System Plan Regarding Consolidated Equity Market Data
SIFMA provided comments to the SEC on the proposal filed by the national securities exchanges and FINRA to establish under…
SIFMA’s CAT Concerns: Podcast with Ellen Greene
In this podcast with FTF News, SIFMA’s Ellen Greene, Managing Director, Equity and Options Market Structure, discusses the Consolidated Audit…
NYSE Wireless Market Data Connection
SIFMA provided comments on the NYSE Wireless Market Data Connection submitted to the U.S. Securities and Exchange Commission to add…
Proposed Rule Change to Introduce Periodic Auctions for the Trading of U.S. Equity Securities
SIFMA provided comments on the proposed rule change filed by Cboe BYX Exchange, Inc. with the Securities and Exchange Commission…
Proposed Rule Change to Adopt Rules Governing the Trading of Equity Securities Through the Boston Security Token Exchange
SIFMA provided comments on the above-referenced proposed rule change filed by BOX Exchange LLC (“BOX” or “Exchange”) with the SEC…
SIFMA Statement on SEC and DOJ Review of Market Data Fees
Washington, D.C., June 23, 2020 – SIFMA today issued the following statement from SIFMA president and CEO Kenneth E. Bentsen,…
SEC Market Structure Discussion
Securities and Exchange Commission Market Structure Discussion Monday, June 22, 2020 Discussion In his opening remarks, Makan Delrahim, Assistant Attorney…
SIFMA Statement on SEC Directing Exchanges to Propose Single National Market System for Consolidated Equity Market Data
Washington, D.C., May 6, 2020 – SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and…
SEC Open Meeting
U.S. Securities and Exchange Commission Open Meeting Wednesday, May 6, 2020 Key Topics & Takeaways New Consolidated Data Plan: In…
Podcast: They Who Hold the Data Should Bear the Liability
In this podcast, we discuss SIFMA’s challenge of the Consolidated Audit Trail Reporter Agreement over data privacy, security and liability…
Proposed Rule Change to Govern the Trading of Equity Securities through the BSTX
SIFMA provided comments to the Securities and Exchange Commission on the proposed rule change filed by BOX Exchange LLC with…
SIFMA Statement on the CAT Reporter Agreement
Washington, D.C., April 22, 2020 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO…
Application for Review of Action Taken by CAT LLC and Certain SROs in Violation of Exchange Act Sections 19(d) and 19(f)
SIFMA applies for review of action taken by Consolidated Audit Trail, LLC and certain Self-Regulatory Organizations (SROs) in violation of…
NYSE Corporate Actions Feed and Exchange Derived Data Policies
SIFMA provided comments to the U.S. Securities and Exchange Commission to notify them of a New York Stock Exchange LLC…
SEC Order on the Governance and Operation of the SIP
SIFMA provided comments to SEC on the Notice of Proposed Order Directing the Exchanges and the Financial Industry Regulatory authority…
SIFMA Promotes Ellen Greene to Managing Director, Equity and Options Market Structure
New York, NY, January 23, 2020 – SIFMA today announced that Ellen Greene has been promoted to the position of…
Proposed Rule Change to SR-BOX -2019-19 mu/ SR-BOX-2019-37 Filings to Adopt Rules Governing the Trading of Equity Securities Through BSTX –
SIFMA provided comments to the SEC on the above-referenced filings made by BOX Exchange LLC. In the Filings, SR-BOX-2019-19 and…
Request for SIP Odd Lot Quotation Proposals
SIFMA provided comments to Nasdaq Unlisted Trading Privileges Plan Participants and Consolidated Quotation Plan Participants' proposal for the securities information…
CAT: A New Timeline, But Data Protection Must Remain a Top Priority
In February 2019, the SRO Operating Committee of the Consolidated Audit Trail (CAT) announced that the Financial Industry Regulatory Authority…
SEC Overturns Previous Ruling in Market Data Fees Case, Finds in Favor of Plaintiffs
WASHINGTON, D.C., October 16, 2018 – SIFMA released the following statement today from SIFMA Managing Director and Associate General Counsel Melissa…
SIFMA Statement on SEC Commissioner Robert Jackson’s Call for Exchange Reform
Washington, DC, September 19, 2018 – SIFMA today released a statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO,…
H.R. 6139 – the Improving Investment Research for Small and Emerging Issuers Act 2018
SIFMA provided comments to the House Committee on Financial Services on H.R. 6139, the Improving Investment Research for Small and Emerging…
Why We Need to Support Public Capital Markets
America’s public capital markets are the most robust in the world and a vital source of financing for many of…
Transaction Fee Pilot for NMS Stocks
SIFMA provided comments to the U.S. Securities & Exchange Commission (SEC) on the transaction fee pilot proposal. In line with…
Taking Stock of Equity Market Structure Priorities
The U.S. stock market is largest in the world – nearly two and a half times the next largest, the…
CAT: From Audit Trail to Opportunity
The following is a guest blog post from Keith Jamaitis of Broadridge Financial Services. The Consolidated Audit Trail (CAT) is…
SIFMA Executive Vice President Randy Snook Remarks as Prepared for the SIFMA Equity Market Structure Conference
Good morning. Thank you for joining us at SIFMA’s Equity Market Structure conference. SIFMA is pleased to provide this annual…
FINRA Rule 5250
SIFMA sprovided comments to FINRA as part of its retrospective rule review of Rule 5250, which limits issuers’ ability to…
SIFMA Letter to SEC on Near-Term Priorities
SIFMA provides letter recommending the SEC move forward on addressing access fees, potentially by proposing a pilot program, adopt the…
SEC NYSE and Cboe Market Data Fee Increases
SIFMA provides comments to the Securities and Exchange Commission (SEC) on concerns that the 2018 NYSE and Cboe market data…
NASDAQ Proposed Changes to SPAC Rule
SIFMA provides comments to the Securities and Exchange Commission (SEC) in response to request for public comment on the proposal…
H.R.477 – Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
SIFMA provided comments to the House Committee on Financial Services on H.R. 477. The Small Business Mergers, Acquisitions, Sales, and Brokerage…
Proposed Rule Change to Adopt the CHX Liquidity Enhancing Access Delay
SIFMA provides comments to the SEC on the proposed rule change filed by the Chicago Stock Exchange (CHX) to implement…
SIFMA Executive Vice President Randy Snook Remarks as Prepared for the Equity Market Structure Conference
Good morning. I’m Randy Snook, executive vice president, business policies and practices at SIFMA. Thank you for joining us at…
US Quarterly Highlights, First Quarter 2017
Long-term securities issuance totaled $1.85 trillion in 1Q'17, a 15.5 percent increase from $1.60 trillion in 4Q'16 and an 11.3…
SIFMA Comments on Potential Revisions to Reg NMS
SIFMA Comments on Potential Revisions to Reg NMS New York, N Y, March 29, 2017 – SIFMA today submitted to…
US Foreign Activity Report, Fourth Quarter 2016
About the Report A semiannual report and semiannual addendum that tracks purchases and sales of U.S. securities by foreign investors…
US Quarterly Highlights, Fourth Quarter 2016
Long-term securities issuance totaled $1.54 trillion in 4Q'16, a 20.7 percent decrease from $1.95 trillion in 3Q'16 and a 3.0…
SIFMA Executive Vice President Randy Snook Remarks as Prepared for the 2016 SIFMA Equity Market Structure Conference
Good morning. I’m Randy Snook, executive vice president, business policies and practices at SIFMA. Thank you for joining us at…
FINRA’s ATS Transparency Initiative
SIFMA provides comment to the U.S. Securities and Exchange Commission (SEC) on a proposed rule change to expand FINRA's Alternative…
Liquidity Coverage Ratio Rule
SIFMA provides comments to the Federal Reserve System on their proposed change to the Liquidity Coverage Ratio Rule to provide…
SIP Plans
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the proposed amendments to the Consolidated Tape Association Plan,…
Proposal to Require ATSs to Submit Quotation Information Relating to Fixed Income Securities
SIFMA provides comments to Financial Industry Regulatory Authority (FINRA) on their proposal to Require Each Alternative Trading System (ATS) to…
Proposal to Amend the Order Audit Trail System (OATS)
SIFMA submitted comments to the Financial Industry Regulatory Authority (FINRA) in response to FINRA's requests for comment on a proposal…
FINRA Proposal to Publish OTC Equity Volume Executed Outside Alternative Trading Systems
SIFMA submitted comments to the Financial Industry Regulatory Authority (FINRA) regarding FINRA's proposal to expand its alternative trading system (ATS)…
Proposal to Identify OTC Trades Reported as “Out of Sequence”
SIFMA submitted comments to the Financial Industry Regulatory Authority (FINRA) in response to FINRA's requests for comment on a proposal…
NASDAQ’s Access Fee Reduction Proposal
SIFMA provided comments to the Securities and Exchange Commission (SEC) on a proposal by the NASDAQ Stock Market LLC to…
Proposed NMS Plan to Implement Tick Size Pilot
SIFMA submitted comments to the Securities and Exchange Commission (SEC) on the proposed national market system (NMS) plan to implement…
Notices Issued by CTA and UTP Plan Operators
SIFMA submitted comments and a petition for disapproval to the Securities and Exchange Commission (SEC) relating to feedback on notices…
Equity Market Structure Reforms
SIFMA provides comments to the Securities and Exchange Commission (SEC) with recommendations for enhancing the fairness, stability and transparency of the…
Regulation NMS, Prepares Order Routing Disclosure Template
SIFMA, the Investment Company Institute (ICI), and Managed Funds Association (MFA) (collectively, the associations) wrote a letter to the Securities…
Selection of Processor for the Nasdaq SIP
SIFMA wrote a letter expressing concern about reports on the selection process being carried out by the operating committee of…
Recommendations for Enhancing Fairness, Stability and Transparency in US Equity Markets
New York, NY, July 14, 2014– SIFMA today published a set of recommendations on equity market structure for enhancing fairness, stability…
Notice of Proposed Rule Change To Establish a Fee Schedule for Alternative Trading System Volume Information
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the proposal filed by the Financial Industry Regulatory Authority (FINRA) with…
Registration Requirements, Exemptions & Ongoing Registration Obligations
SIFMA provides comments to the Canadian Securities Administrators' (CSA) on the CSA's Notice of and Request for Comment on Proposed…
Supporting the Small Cap Liquidity Reform Act
SIFMA provides comments to the U.S. Congress supporting the Small Cap Liquidity Reform Act of 2013, H.R. 3448. This legislation…
Supporting the Approval of the FINRA Rule Change to Wash Sale Transactions
SIFMA provides comments to the Securities and Exchange Commission (SEC) supporting a proposed rule change by the Financial Industry Regulatory…
National Market System Plan for the CAT
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the proposed National Market System Plan governing the process…
NYSE’s Proposed Institutional Liquidity Program
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the New York Stock Exchange, LLC's (NYSE's) notice of…
Securities Information Processors and Operational Resiliency
SIFMA provides comments to the Securities and Exchange Commission (SEC) on review by the SEC of the operation of the…
Alternate Trading Systems Volume Reporting
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the Financial Industry Regulatory Authority's (FINRA's) notice of filing…
Wash Sale Transactions
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposal by the Financial Industry Regulatory Authority (FINRA)…
The Self-Regulatory Structure of Securities Markets
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the self-regulatory structure of the securities markets. SIFMA requests the…
The Implementation Schedule for Phase II of the Limit Up-Limit Down Plan
SIFMA provides comments to the Securities and Exchange Commission (SEC) requesting the approval of an adjustment to the implementation schedule for…
SIFMA 19(d) Application for an Order Setting Aside Rule Changes of Certain SROs Limiting Access to Their Services
SIFMA files this 19(d) application with the Securities and Exchange Commission (SEC) for review of action taken by certain self-regulatory…
Selected Consolidated Audit Trail (CAT) NMS Plan Topics
SIFMA provides comments to the industry's self-regulatory organizations (SROs) and the Exchanges on the four selected topics concerning the National Market…
Phasing Out Liquidity Replenishment Points in Connection with the Limit Up-Limit Down Plan
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the New York Stock Exchange (NYSE) Proposal to amend Rule 1000…
Application for an Order Setting Aside Rule Changes of Certain SROs Limiting Access to Their Services
SIFMA files an application with the Securities and Exchange Commission (SEC) an order setting aside rule changes of certain self-regulatory…
The NASDAQ UTP Plan Fee Increase
SIFMA provides comments to the Securities and Exchange Commission (SEC), Chair of the Nasdaq UTP Plan Operating Committee, and the…
Report Timing for OTC Equity Transactions
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposed Financial Industry Regulatory Authority, Inc. (FINRA) rule…
Retail Orders, Retail Liquidity Programs, & Retail Member Organizations
SIFMA provides comments to the Securities and Exchange Commission (SEC) on proposals to allow participants to attest that “substantially all”…
NSX New Order Type, Auto-Ex Only
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposal by the National Stock Exchange, Inc. (NSX) to adopt…
NASDAQ’s Proposal in Response to the Facebook IPO
SIFMA provides comments to the Securities and Exchange Commission (SEC) on an order instituting proceedings to determine whether to approve or…
Benchmark Orders
SIFMA provides comments to the Securities and Exchange Commission (SEC) on File No. SR–NASDAQ–2012–059: Order Instituting Proceedings to Determine Whether…
Industry Sponsored Plan for Options Exchanges to Address the Limit Up Limit Down Plan
SIFMA provides comments to NYSE Euronext in support of an industry sponsored plan for the options exchanges to address the…
Retail Price Improvement Program
SIFMA provides comments to the Securities and Exchange Commission (SEC) on File No. SR-BYX-2012-019: Notice of Filing of Proposed Rule…
FINRA Proposed Rule Relating to “Stop” & “Stop Limit” Orders
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the Financial Industry Regulatory Authority's (FINRA's) proposed Rule 5350.…
Alternative Implementation Timeframe for the Large Trader Reporting Rule for Broker-Dealers
SIFMA recommends to the Securities and Exchange Commission (SEC) an alternative implementation timeframe for the large trader reporting rule (SEC…
Exemption from the Large Trader Reporting Rule for Certain Capital Markets Offerings
SIFMA requests that the Securities and Exchance Commission (SEC) grant an exemption from the large trader reporting rule (SEC Rule 13h-1)…
NYSE’s Proposed Retail Liquidity Program for NYSE-Listed Securities & NYSE AMEX Equities Traded Securities
SIFMA provides comments to the Securities and Exchange Commission (SEC) on its order instituting proceedings to determine whether to disapprove…
Market-Wide Circuit Breakers
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the SEC's order instituting proceedings to determine whether to…
NYSE’s Proposed Retail Liquidity Program (new Rule 107C)
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the New York Stock Exchange's (NYSE) proposed Retail Liquidity…
IIROC Notice 11-0225 – UMIR – Provisions Respecting Dark Liquidity
SIFMA provides comments to the Investment Industry Regulatory Organization of Canada (IIROC) and the Ontario Securities Commission on IIROC Notice…
Regulatory Notice 11-43 Relating to Indications of Interest
SIFMA provides comments to the Financial Industry Regulatory Authority (FINRA) on its Regulatory Notice 11-43, which discusses possible amendments to…
SRO Proposals Relating to Market Wide Circuit Breakers
SIFMA provides comments to the Securities and Exchange Commission (SEC) on proposals by the Financial Industry Regulatory Authority (FINRA), the…
Technological Changes on Market Integrity & Efficiency
SIFMA provides comments to the International Organization of Securities Commissions (IOSCO) on the IOSCO Technical Committee Consultation Report: Regulatory Issues…
Dodd-Frank Short Sale Reporting Studies
SIFMA provides comments to the Securities and Exchange Commission (SEC), on behalf of its Division of Risk, Strategy, and Financial…
SROs’ Proposed Limit Up-Limit Down Plan Addressing Extraordinary Market Volatility
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the Plan to Address Extraordinary Market Volatility Submitted to…
Rule 15c3-5 (Market Access Rule) to Provide for a Phased Implementation of the Rule
SIFMA provides comments to the Securities and Exchange Commission (SEC) on SEC Rule 15c3-5 under the Securities Exchange Act of…
Regulatory Responses to the Market Events of May 6, 2010
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the Joint Commodity Futures Trading Commission (CFTC)-SEC Advisory Committee on…
Joint Advisory Committee Request for Comments on Price Swings Due to Liquidity Gaps
SIFMA provides comments to the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) for the Joint CFTC-SEC Advisory Committee request…
Proposed Elimination of Flash Order Exception
SIFMA's Equity Options Trading Committee provides comments to the Securities and Exchange Commission (SEC) regarding the proposal to eliminate the…
Registration of Operations & Support Personnel
SIFMA provides comments to Financial Industry Regulatory Authority (FINRA) on a proposal for the registration of operations and support personnel,…
Rules Relating to Clearly Erroneous Executions
SIFMA provides comments to the Securities and Exchange Commission (SEC) on proposed amendments to rules relating to clearly erroneous executions, File Numbers…
SEC Market Structure Roundtable
SIFMA provides comments to the Securities and Exchange Commission (SEC) regarding several issues addressed during the SEC’s Market Structure Roundtable.…
Proposed Large Trader Reporting System
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the proposed large trader reporting system, Release No. 34-61908;…
Proposed Amendments to Rule 610 of Regulation NMS
The Equity Options Trading Committee of SIFMA provides comments to the Securities and Exchange Commission (SEC) on proposed amendments to…
Proposed Rule to Make Permanent a Unit-of-Count Metric Alternative for NYSE OpenBook
SIFMA's Market Data Subcommittee provides comments to the Securities and Exchange Commission (SEC) regarding SR-NYSE-2010-22, a proposal to make permanent…
Concept Release on Equity Market Structure
SIFMA provides comments to the Securities and Exchange Commission (SEC) regarding the Commission's release on equity market structure, Release No. 34-61358;…
Purchases of Certain Equity Securities by the Issuer & Others
SIFMA provides comments to the Securities and Exchange Commission (SEC) regarding proposed amendments to Rule 10b-18 (Safe Harbor), which provides…
Regulation of Non-Public Trading Interest
SIFMA provides comments to the Securities and Exchange Commission (SEC) regarding the SEC's proposed rule changes regarding non-public trading interest…
NASDAQ Sponsored Access Rule Proposal
SIFMA provides comments to the Securities and Exchange Commission (SEC) on an amended NASDAQ sponsored access rule proposal, File No.…
Financial Industry Regulatory Authority Rules
SIFMA provides comments to the Securities and Exchange Commission (SEC) on proposed rule changes from the Financial Industry Regulatory Authority, SR-FINRA-2009-054…
SEC’s Securities Lending & Short Sale Roundtable
SIFMA's Securities Lending Division and the Committee on Securities Lending of the Risk Management Association (RMA) provides comments to the…
Proposed Amendments to Regulation SHO Relating to the Alternative Price Test
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the proposed amendments to Regulation SHO (Alternative Price Test), Release…
Penny Pilot Program
SIFMA's Equity Options Trading Committee provides comments to the Securities and Exchange Commission (SEC) on the Penny Pilot Program, File No.…
ICSA Regulation of Short Selling
SIFMA provides comments to the International Organization of Securities Commissions (IOSCO) on behalf of the members of the Standing Committee…
IOSCO Regulations of Short Selling
SIFMA and the International Securities Lending Association (ISLA), London Investment Banking Association (LIBA), Pan Asia Securities Lending Association and Risk…
FINRA Proposed Rule to the NYSE & NYSE Amex LLC
SIFMA provides comments to the Financial Industry Regulatory Authority (FINRA) and the NYSE Euronext on FINRA Regulatory Notice 09-15, which requests…
FSA Discussion Paper About Short Selling
SIFMA, along with the London Investment Banking Association (LIBA), International Swaps and Derivatives Association (ISDA), and International Securities Lending Associations (ISLA), provides…
Front Running of Block Transactions
SIFMA provides comments to the Financial Industry Regulatory Authority (FINRA) on Front Running of Block Transactions, Regulatory Notice 08-83. The proposal would codify the…
Sponsored Access
SIFMA provides comments to the Securities and Exchange Commission (SEC) on sponsored access, Exchange Act Release No. 59275; File No. SR-NASDAQ-2008-104.…
FINRA Best Execution
SIFMA provides comments to the Financial Industry Regulatory Authority (FINRA) on best execution, Regulatory Notice 08-80. In connection with its ongoing…
Pilot Program for NASDAQ Basic Data Feeds
The Market Data Subcommittee of SIFMA's Technology and Regulation Committee provides comments to the Securities and Exchange Commission (SEC) on a…
Proposed Change to Introduce a NYSE OpenBook Nonprofessional Subscriber Fee
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposed change to introduce a NYSE OpenBook nonprofessional subscriber…
Rule Change to Adopt FINRA Rule 2114 in the Consolidated FINRA Rulebook
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the notice of proposed rule change to adopt Financial Industry Regulatory Authority…
Disclosure of Short Sales & Short Positions by Institutional Investment Managers
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the disclosure of short sales and short positions by institutional…
Guidance Concerning Proposed Rule Changes Filed by Self-Regulatory Organizations
SIFMA provides comments to the Securities and Exchange Commission (SEC) on SEC guidance concerning proposed rule changes filed by self-regulatory organizations…
Proposal by NYSE Arca, Inc. to Establish Fees for Certain Market Data
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposed order approving a proposal by NYSE Arca, Inc.…
EConsolidating Certain Rules Related to Options into the FINRA Rulebook
SIFMA’s Equity Options Trading Committee provides comments to the Securities and Exchange Commission (SEC) on the proposed rule change to…
Proposal Relating to the Incorporated NYSE Rules
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposed rule change relating to the incorporated NYSE rules, also…
FSA’s Short Selling Disclosure Regime
SIFMA and the London Investment Banking Association (LIBA) provide comments to the Financial Services Authority (FSA) on the FSA's short selling disclosure…
Fee for NYSE Real-Time Reference Prices
The Market Data Subcommittee of the Technology and Regulation Committee of SIFMA provides comments to the Securities and Exchange Commission (SEC) on…
Proposed Rule Change Relating to Communications to Customers
The Equity Options Trading Committee of SIFMA provides comments to the Securities and Exchange Commission (SEC) on the Chicago Board…
Recommendations for Quality of Execution Reports
The Equity Options Trading Committee of SIFMA provides comments to the American Stock Exchange, the Boston Options Exchange, the Chicago…
An Economic Study of Securities Market Data Pricing by the Exchanges
This study conducts an economic analysis of the supply and demand of securities market data sold by exchanges in the…
NYSE Arca Proposal
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposed order that would approve a proposal by NYSE Arca…
Principles for Analyzing Market Data Rule Changes
SIFMA provides comments to the Securities and Exchange Commission (SEC) on proposed rules relating to principles for analyzing market data rule…
NYSE OpenBook Ultra and NYSE Order Imbalance Information
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the NYSE OpenBook Ultra (Ultra) and the NYSE Order Imbalance…
Options Supervision Requirements
The Equity Options Trading Committee of SIFMA provides comments to Financial Industry Regulatory Authority (FINRA) on FINRA amendments relating to…
Proposed Anti-Fraud Rule
SIFMA provides comments to the Securities and Exchange Commission (SEC) on proposed anti-fraud rule, proposed Rule 10b-21, Release No. 34-57511;…
Amending NASD Rule 2220 Relating to Options Communications
The Equity Options Trading Committee of SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposal that…
Proposal to Amend Trade Reporting Structure and Require Submission of Non-Tape Reports
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposal by the Financial Industry Regulatory Authority (FINRA) to amend…
Recommendations for Improving Best Execution Reports for Options Exchanges
The Options Committee of SIFMA provides recommendations to the American Stock Exchange, the Boston Options Exchange, the Chicago Board Options Exchange,…
Ontario Securities Commission Client Brokerage Commissions
The Institutional Brokerage Committee of SIFMA provides comments to the Ontario Securities Commission, the British Columbia Securities Commission, the Alberta Securities…
Proposed Rule Rescinding NYSE Rule 97
SIFMA's The Equity Markets and Trading Committee and the New York Stock Exchange (NYSE) Rule 97 Working Group provide comments…
Market Data Rebates for Reporting Off-Exchange Transactions
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposed rule change to amend NASD Rule 7001B to increase the market…
Exemption Request for Non-Convertible Preferred Securities
SIFMA provides comments to the Securities and Exchange Commission (SEC) requesting an exemption under Rule 611(d) of Regulation NMS under the…
Exemptive Relief for Error Correction Transactions
SIFMA provides comments to the Securities and Exchange Commission (SEC) requesting the SEC exempt error correction transactions from Rule 611(a)…
Exemptive Relief for Print Protection Transactions
SIFMA provides comments to the Securities and Exchange Commission (SEC) requesting the SEC exempt print protection transactions from Rule 611(a) (the Order…
Pilot Program for Quoting of Options in Penny Increments
The Securities Industry Association (SIA)* provides comments the Securities and Exchange Commission (SEC) on the pilot program for quoting of options…
NASDAQ Market Data Fee Rule
The Market Data Subcommittee of the Technology and Regulation Committee of the Securities Industry Association (SIA)* provide comments to the…
Market Analytics Data Package and Fees for Trading
The Market Data Subcommittee of the Technology and Regulation Committee of the Securities Industry Association (SIA)* provides comments to the Securities…
SIA Submits Comments to the Regulation NMS SRO Committee on Regulation NMS Implementation
The Securities Industry Association (SIA)* provide comments to the Regulation NMS Self-Regulatory Organization (SRO) Committee: Oscar Onyema, American Stock Exchange…
SIA Submits Comments to the SEC on a Proposed Rule Change Relating to TRACE Market Data Fees
The Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC) on the National Association of Securities Dealers, Inc. (NASD)…
SIA Submits Comments to the SEC on Proposed Rule Changes of SROs
The Self-Regulation and Supervisory Practices Committee of the Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC)…
SIA Submits Comments to the SEC on Opposing The Proposed Fee Increases For Options Market Data
The Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC) on opposing the proposed fee increases for…
TBMA Submits Comments to the SEC on a Proposal Relating to Market Data Fees and Structures
The Bond Market Association (TBMA)* provides comments to the Securities and Exchange Commission (SEC) on the SEC's concept release on market data…