RegNMS
From Wikipedia, the free encyclopedia
RegNMS, better known as Regulation NMS or Regulation National Market System is the new regulation that takes effect in mid-2007. This guarantees best trading price. It is an initiative undertaken by SEC, and will have considerable impact on the data feeds, on SROs, on exchanges.
It would help the algorithmic trading shops to record profits, and the key would be execution time.
Four important rules of RegNMS are:
(1) Order Protection Rule (OPR)
(2) Access Rule
(3) Sub-Penny Rule
(4) Market Data Rules
Sub-penny and Market Data Rules are in effect. While Access Rule and Order Protection Rule compliance requirements will be mandatory October 2007 onwards.
[edit] External links
Overview by NASDAQTrader.com
