SEC Equity Market Structure Advisory Committee

The Securities and Exchange Commission today announced that its Equity Market Structure Advisory Committee will hold its first meeting on May 13.  The meeting will focus on Rule 611 of SEC Regulation NMS, known as the “Order Protection Rule” or “Trade-through Rule.”

Rule 611 requires trading centers to have policies and procedures designed to prevent “trade throughs” – trades at prices that are inferior to displayed and immediately accessible quotations at other trading centers.

“Enhancing our equity market structure remains a top priority,” said SEC Chair Mary Jo White.  “As we continue to make progress in this important area, the committee’s experience and diverse viewpoints will provide valuable insight as we work together to further strengthen our overall market structure.”

The Commission established the advisory committee in February to provide a formal mechanism through which the Commission can receive advice and recommendations on equity market structure issues.

The meeting will be held at the SEC’s headquarters at 100 F Street, N.E., Washington, D.C., and is open to the public.  It also will be webcast live on the SEC’s website, www.sec.gov, and will be archived on the website for later viewing.

Members of the public who wish to provide their views on the matters to be considered by the advisory committee may submit comments electronically or on paper.  Please submit comments using one method only.  Information that is submitted will become part of the public record of the meeting. .

Agenda

9:30 a.m.        Introductory Remarks by Chair White, Commissioners and the Director of the Division of Trading and Markets

10:00 a.m.      Self-Introduction of Committee Members

10:50 a.m.      Review and Consideration of Proposed Bylaws

11:00 a.m.      Presentation on Rule 611 by SEC staff

11:30 a.m.      Lunch/Administrative Session

1:00 p.m.        Presentation and Q&A on Rule 611

2:00 p.m.        Break

2:15 p.m.        Presentation and Q&A on Rule 611- Continuation

3:15 p.m.        Committee Discussion of Rule 611

4:30 p.m.        Discussion of Next Steps