Description
Previous ID under FIRE providership: 234926
Regulation NMS represents a major overhaul of the structure of the securities markets. Its basic intent is to strengthen and modernize the system by which the equity markets are regulated so investors receive the best possible execution under current market conditions. The course discusses the rules related to the dissemination and reporting of quotes under Regulation NMS and the anticipated impact of these rules on the exchanges, markets, and electronic communications networks (ECNs). In addition to the rule requirements, this course overviews how NMS provides investors with both the best possible executions based on current market conditions and transparency of last-trade information.
Learning Objectives
Define a Nasdaq NMS security and explain how data regarding NMS securities are processed and displayed (Rule 602); outline the rules and guidelines that dealers, market centers, and market markers must follow for limit orders, trade reporting, and routing disclosures; describe and understand Access to Quotations (Rule 610), Order Protection Rule (Rule 611), and Minimum Pricing Increment (Rule 612)