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.
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 print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Waters Wavelength
Waters Wavelength Podcast: Episode 241 (Big Tech and the capital markets)
Wei-Shen and Tony explore the idea of big tech companies disrupting the traditional Wall Street vendors.
Subscribe to Weekly Wrap emails
Most read
- Alt data’s second inning: Brace for a long M&A game
- Bank consortium led by SocGen seeks to cure post-trade data ills
- 9/11: the colleagues we lost, and the years that followed
- Google-Greenwich: Financial firms agree on cloud's ubiquity, but vary widely on use cases
- Waters Wrap: Owning the data & doing something unique with it—the ultimate alchemy