SEC overstepping authority in NMS plan, Nasdaq claims in court

Nasdaq's counsel argued that the regulator does not have the power to give more votes to non-exchange organizations in the Sips' operating committees.

Law

A lawyer for Nasdaq told a court of appeals on Monday that the US markets regulator is overstepping its authority in ordering the biggest exchanges to come up with a new governance plan for the public consolidated feeds of US equities market data, which would give more voting power to broker-dealers and other organizations that sit on the operating committees governing these feeds.

In February, Nasdaq, the New York Stock Exchange (NYSE) and Cboe Global Markets filed petitions in the Court of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: