The companies, products and regulatory developments shaping the broker industry.
The SEC extended relief for specified tick-size and access-fee amendments to 1 November 2027. Rule 610(d)'s fee-determinability timetable was separate, as IEX's 2026 filings illustrate.
Current appendices set minimum lots and NLT ticks. Older parent-notice revisions should not be used as current registration instructions.
The affected tick-size and access-fee changes now reach compliance in November 2027. A parallel proposal to remove trade-through protection makes the final routing economics a separate planning question.
The 15 October update connects derivatives identification with public trade data and explains routes for tick-size intervention. Brokers face separate questions about data preparation and venue price increments.