Explore the comprehensive details of Regulation NMS, including the Order Protection Rule, Access Rule, Sub-Penny Rule, and Market Data Rules, and understand their impact on trading practices and market structures.
Explore the Order Protection Rule (Rule 611) of the National Market System, designed to prevent trade-throughs and ensure best price execution in securities trading. Learn about the National Best Bid or Offer (NBBO), exceptions to the rule, and real-world scenarios demonstrating compliance and violations.
Explore Rule 610 of the National Market System, which ensures fair and non-discriminatory access to quotations, prohibits locked and crossed markets, and imposes fee limitations to enhance market efficiency.
Explore the role of dark pools in securities trading, their advantages, concerns, and regulatory oversight. Learn how these private trading venues impact market transparency and fairness.