Background | Resources | Related Links
IMPLEMENTATION
- Market Centers: The national securities exchanges and association must submit to the SEC by February 15, 2001 a joint national market system plan that proposes a way of disseminating the data produced. The plan (or, in the event a plan has not yet been developed, the market centers) must offer a uniform electronic format and the use of electronic locations that are readily accessible to a broad range of individuals. The plan will be subject to a public comment period.
- Broker-Dealers: Member firms' reports must be posted on free and readily accessible web sites. They must provide a written copy to customers who request them, and notify customers at least annually that a written copy of the reports will be provided upon request.
- Market Data Users: After the market center and broker-dealer information is made available to the public, interested persons will be able to prepare and market analyses of the data.
- SEC Follow-Up: The SEC staff expects to monitor the effect of these two new rules (and of decimalization) on trading in the next several months. The SEC stated in its adopting release that, after assessing the impact of these rules and decimals, it will consider whether additional action is necessary to address market fragmentation and further the Securities Exchange Act's objectives for a national market system.
