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CFR › Title 17 › Chapter II › Part 242 › Section 242.603

17 CFR 242.603 - Distribution, consolidation, and display of information with respect to quotations for and transactions in NMS stocks.

There is 1 rule appearing in the Federal Register for 17 CFR 242. Select the tab below to view, or View eCFR (GPOAccess)
§ 242.603 Distribution, consolidation, and display of information with respect to quotations for and transactions in NMS stocks.
(a) Distribution of information.
(1) Any exclusive processor, or any broker or dealer with respect to information for which it is the exclusive source, that distributes information with respect to quotations for or transactions in an NMS stock to a securities information processor shall do so on terms that are fair and reasonable.
(2) Any national securities exchange, national securities association, broker, or dealer that distributes information with respect to quotations for or transactions in an NMS stock to a securities information processor, broker, dealer, or other persons shall do so on terms that are not unreasonably discriminatory.
(b) Consolidation of information. Every national securities exchange on which an NMS stock is traded and national securities association shall act jointly pursuant to one or more effective national market system plans to disseminate consolidated information, including a national best bid and national best offer, on quotations for and transactions in NMS stocks. Such plan or plans shall provide for the dissemination of all consolidated information for an individual NMS stock through a single plan processor.
(c) Display of information.
(1) No securities information processor, broker, or dealer shall provide, in a context in which a trading or order-routing decision can be implemented, a display of any information with respect to quotations for or transactions in an NMS stock without also providing, in an equivalent manner, a consolidated display for such stock.
(2) The provisions of paragraph (c)(1) of this section shall not apply to a display of information on the trading floor or through the facilities of a national securities exchange or to a display in connection with the operation of a market linkage system implemented in accordance with an effective national market system plan.
(d) Exemptions. The Commission, by order, may exempt from the provisions of this section, either unconditionally or on specified terms and conditions, any person, security, or item of information, or any class or classes of persons, securities, or items of information, if the Commission determines that such exemption is necessary or appropriate in the public interest, and is consistent with the protection of investors.

Title 17 published on 2012-04-01

The following are only the Rules published in the Federal Register after the published date of Title 17.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2012-08-01; vol. 77 # 148 - Wednesday, August 1, 2012
    1. 77 FR 45722 - Consolidated Audit Trail
      GPO FDSys XML | Text
      SECURITIES AND EXCHANGE COMMISSION
      Final rule.
      Effective Date: October 1, 2012.
      17 CFR Part 242

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
USC : Title 15 - COMMERCE AND TRADE

§ 77g - Information required in registration statement

§ 77q - Fraudulent interstate transactions

§ 77s - Special powers of Commission

§ 78b - Necessity for regulation

§ 78c - Definitions and application

§ 78g - Margin requirements

§ 78i - Manipulation of security prices

§ 78j - Manipulative and deceptive devices

15 USC § 78k–1 - National market system for securities; securities information processors

15 USC § -

§ 78m - Periodical and other reports

§ 78n - Proxies

15 U.S.C. § -

§ 78q - Records and reports

§ 78w - Rules, regulations, and orders; annual reports

15 USC § 78dd–1 - Prohibited foreign trade practices by issuers

§ 78mm - General exemptive authority

15 USC § 80a–23 - Closed-end companies

15 USC § 80a–29 - Reports and financial statements of investment companies and affiliated persons

15 USC § 80a–37 - Rules, regulations, and orders

Title 17 published on 2012-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 17 CFR 242 after this date.

  • 2013-03-25; vol. 78 # 57 - Monday, March 25, 2013
    1. 78 FR 18084 - Regulation Systems Compliance and Integrity
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      SECURITIES AND EXCHANGE COMMISSION
      Proposed rule and form; proposed rule amendment.
      Comments should be submitted on or before May 24, 2013.
      17 CFR Parts 242 and 249