SIA Reg NMS Group Gets Active
Traders Magazine, July, 2006
From ITS to Reg NMS Worries Going from the Intermarket Trading System (ITS), which links the national market system, to a newer one could cause potential trading mishaps. So a trading issues committee is asking regulators for a clarification of what happens during the transition period from ITS to Reg NMS.
They are unsure of what will happen during the implementation and testing period of Reg NMS. "Once the listed securities start quoting with automated quotes, we don't want to be subject to two different sets of rules. One for the Order Protection Rule and the other for ITS," according to Matthew Lavicka, chairman of the SIA Reg NMS group. He said the trading industry would prefer the ITS to expire and then let Reg NMS take over. Still, he said there might need to be a...
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