The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
Abstract
The Securities and Exchange Commission ("Commission" or "SEC") is proposing amendments to Regulation NMS ("Regulation NMS") under the Securities Exchange Act of 1934 ("Exchange Act"). The proposed amendments would rescind the trade-through rule for NMS stocks, the provision regarding locking and crossing quotations for NMS stocks, and certain defined terms. The proposed amendments would also make conforming changes to other related provisions.
Federal Register Source
This document is published by the Office of the Federal Register, National Archives and Records Administration. Access the full regulatory text, preamble, and docket comments below.
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Frequently Asked Questions
What is the 2026-12163 Federal Register document?
Document 2026-12163 is a Proposed Rule published by the Securities and Exchange Commission in the Federal Register on June 17, 2026. The Securities and Exchange Commission ("Commission" or "SEC") is proposing amendments to Regulation NMS ("Regulation NMS") under the Securities Exchange Act of 1934 ("Exchange Act"). The proposed amendments would rescind the trade-through rule for NMS stocks, the provision regarding locking and crossing quotations for NMS stocks, and certain defined terms. The proposed amendments would also make conforming changes to other related provisions. View the original at https://www.federalregister.gov/documents/2026/06/17/2026-12163/the-trade-through-rule-and-locked-and-crossed-markets-provisions-of-regulation-nms.
Is document 2026-12163 an economically significant rule?
No. Document 2026-12163 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.