Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Orders

The Securities and Exchange Commission ("Commission' or "SEC') is proposing to amend certain rules of Regulation National Market System ("Regulation NMS') under the Securities Exchange Act of 1934, as amended ("Exchange Act') to adopt variable minimum pricing increments for the quoting and trading of NMS stocks, reduce the access fee caps, and enhance the transparency of better priced orders.