SEC to End Tick Size Pilot
Publication Date: September 12, 2018

On May 6, 2015, the Securities and Exchange Commission approved the National Market System Plan to implement a Tick Size Pilot Program as a two-year pilot program that would widen the minimum quoting and trading increments–or tick sizes–for stocks of certain smaller companies. To address potential operational concerns raised by a mid-week shift in the quoting and trading increments of a large number of NMS stocks, the Securities and Exchange Commission issued an exemption to the exchanges and Financial Industry Regulatory Authority (FINRA) to allow the quoting and trading requirements to terminate at the end of trading on Friday, September 28, 2018. Accordingly, Pilot Securities will no longer be subject to the quoting and trading requirements of the Tick Size Pilot Program and will be subject to the quoting and trading requirements that are otherwise applicable to NMS stocks on Monday, Oct. 1, 2018.

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