Introducing a trade-at rule would not resolve market
volatility concerns and overlooks the benefits of dark
liquidity, according to US counsel.
reports indicate the Securities and Exchange Commission
(SEC) is seriously considering the rule. But there are
questions over its purpose.
"It seems to be a solution in search of a problem," said
Howard Kramer, a securities partner with Schiff Hardin and
former SEC lawyer.
The rule appeared in the SEC’s concept release
on equity markets in January, and was recommended in the
SEC/Commodity and Futures Trading...