US trade-at debate reignited

Author: Danielle Myles | Published: 13 May 2011

Introducing a trade-at rule would not resolve market volatility concerns and overlooks the benefits of dark liquidity, according to US counsel.

Recent 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...