FIA Principal Traders Recommend Axing Trade-Through

White paper suggests broad-based overhaul of Reg NMS

Capitol Hill in Washington DC

The industry group's headlining proposal suggests that the so-called trade-through rule, a crucial requirement of equities exchanges introduced as part of Regulation NMS, be abolished.

"We believe best execution could be addressed better and much more simply by clarifying and modernizing the best execution requirements that brokers already have, rather than by sustaining an extremely complex backstop managed by the trading venues," the paper says. "This modernization could include consideration

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