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FIA PTG comments in support of SEC Disclosure of Order Handling Information Proposal

FIA PTG comments in support of SEC Disclosure of Order Handling Information Proposal

23 September 2016 5:45pm EDT

FIA PTG responded to the SEC's proposed rule on Disclosure of Order Handling Information. The rule would require broker-dealers to disclose additional information to customers about the handling of institutional orders. Additionally, the SEC is proposing to enhance current retail order disclosures.  

FIA PTG has been a consistent advocate for equity market structure reforms that enhance transparency, as detailed in a variety of position papers and comment letters. Providing market participants with the basic parameters of each transaction will enable them to assess best execution and will reduce information asymmetries. The SEC proposal will help improve transparency and provide retail and institutional investors with the data needed to evaluate the quality of their executions.  

FIA PTG wrote, "We agree with the Commission in calling for new disclosures by broker-dealers regarding their handling of institutional orders, and enhanced, more detailed disclosures with respect to retail orders. We specifically support the proposal to make standardized customer-specific institutional order handling information in XML format readily available to customers upon request, to provide more relevant routing information to retail customers, and to make aggregated order routing data for both institutional and retail orders available on public websites."

The full letter is available here.  

Read more about FIA PTG's positions on equity market structure reform here:

Equity Market Structure Principles

Simplifying U.S. Equity Market Structure 

FIA PTG Comments on Locked and Crossed Markets in Letter to SEC Equity Market Structure Advisory Committee

FIA PTG submits comments to the SEC Equity Market Structure Advisory Committee on Trade-Through Rule


2016-09-23_SEC_Order_Handling_Proposal.pdf (459.94 KB)





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