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CFR › Title 17 › Chapter II › Part 242 › Section 242.610

17 CFR 242.610 - Access to quotations.

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§ 242.610 Access to quotations.
(a) Quotations of SRO trading facility. A national securities exchange or national securities association shall not impose unfairly discriminatory terms that prevent or inhibit any person from obtaining efficient access through a member of the national securities exchange or national securities association to the quotations in an NMS stock displayed through its SRO trading facility.
(b) Quotations of SRO display-only facility.
(1) Any trading center that displays quotations in an NMS stock through an SRO display-only facility shall provide a level and cost of access to such quotations that is substantially equivalent to the level and cost of access to quotations displayed by SRO trading facilities in that stock.
(2) Any trading center that displays quotations in an NMS stock through an SRO display-only facility shall not impose unfairly discriminatory terms that prevent or inhibit any person from obtaining efficient access to such quotations through a member, subscriber, or customer of the trading center.
(c) Fees for access to quotations. A trading center shall not impose, nor permit to be imposed, any fee or fees for the execution of an order against a protected quotation of the trading center or against any other quotation of the trading center that is the best bid or best offer of a national securities exchange, the best bid or best offer of The Nasdaq Stock Market, Inc., or the best bid or best offer of a national securities association other than the best bid or best offer of The Nasdaq Stock Market, Inc. in an NMS stock that exceed or accumulate to more than the following limits:
(1) If the price of a protected quotation or other quotation is $1.00 or more, the fee or fees cannot exceed or accumulate to more than $0.003 per share; or
(2) If the price of a protected quotation or other quotation is less than $1.00, the fee or fees cannot exceed or accumulate to more than 0.3% of the quotation price per share.
(d) Locking or crossing quotations. Each national securities exchange and national securities association shall establish, maintain, and enforce written rules that:
(1) Require its members reasonably to avoid:
(i) Displaying quotations that lock or cross any protected quotation in an NMS stock; and
(ii) Displaying manual quotations that lock or cross any quotation in an NMS stock disseminated pursuant to an effective national market system plan;
(2) Are reasonably designed to assure the reconciliation of locked or crossed quotations in an NMS stock; and
(3) Prohibit its members from engaging in a pattern or practice of displaying quotations that lock or cross any protected quotation in an NMS stock, or of displaying manual quotations that lock or cross any quotation in an NMS stock disseminated pursuant to an effective national market system plan, other than displaying quotations that lock or cross any protected or other quotation as permitted by an exception contained in its rules established pursuant to paragraph (d)(1) of this section.
(e) Exemptions. The Commission, by order, may exempt from the provisions of this section, either unconditionally or on specified terms and conditions, any person, security, quotations, orders, or fees, or any class or classes of persons, securities, quotations, orders, or fees, 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
      GPO FDSys XML | Text
      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