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SEC Considers Routing Equity Trades Into Competitive Auctions, Gensler Says
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wsj.comSecurities and Exchange Commission Chairman Gary Gensler said he has asked agency staff to consider requiring brokerages to route individual investors’ orders to buy or sell stocks into auctions, as part of an effort to increase competition in the market.
The potential change would represent a major shakeup to the lucrative business of executing trades in the stock market. The Wall Street Journal reported Monday that the plan was under consideration. The objective would be to “assure full competition among all market participants to provide the best prices for retail investors,” Mr. Gensler said Wednesday in prepared remarks for a speech to the Piper Sandler Global Exchange & FinTech Conference in New York.
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