The U.S. Securities and Exchange Commission has published the agenda and participant list for a 16 December 2025 roundtable on Rule 611 of Regulation NMS and related rules and regulatory requirements, focusing on potential implications if the trade-through prohibitions are modified or rescinded. The event will run from 9 a.m. to 1 p.m. CT at the University of Austin and will be open to the public with a live webcast. The programme includes opening remarks from SEC Chairman Paul Atkins, Commissioners Hester Peirce, Caroline Crenshaw and Mark Uyeda, and Jamie Selway, Director of the Division of Trading and Markets. Three panels will cover potential changes to Rule 610 (including fair access, access fee caps, and locked and crossed markets), potential changes to Rule 600 definitions and market data (including effects on the national best bid and offer and consolidated market data revenue allocation incentives), and impacts on best execution (including whether enhanced guidance is needed for broker-dealers if Rule 611 is modified or rescinded and if related rules such as Rule 610(c) are amended). In-person attendees must register by 15 December 2025 and will be subject to security checks. Online attendance does not require registration; the SEC will post a viewing link on 16 December, and a recording will be made available later.
U.S. Securities & Exchange Commission 2025-12-10
U.S. Securities and Exchange Commission announces agenda and panelists for Regulation NMS Rule 611 roundtable
The U.S. Securities and Exchange Commission will hold a roundtable on 16 December 2025 to discuss potential changes to Rule 611 of Regulation NMS and related rules, focusing on trade-through prohibitions. The event, featuring SEC Chairman Paul Atkins and other key figures, will include panels on Rule 610, Rule 600 definitions, and best execution impacts. The roundtable will be at the University of Austin and open to the public via live webcast.