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Will average transaction fees for retail investors decrease by the end of 2024 due to the new SEC rules?
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SEC Unanimously Votes to Reduce Minimum Stock Pricing Increments to Half a Penny for Stocks and ETFs
Sep 18, 2024, 02:25 PM
The U.S. Securities and Exchange Commission (SEC) has unanimously voted to reduce the minimum stock pricing increments to half a penny. This decision is part of a larger package of proposed reforms aimed at promoting more competitive pricing and reducing investor transaction costs. The new rules will allow thousands of stocks and ETFs traded on exchanges to be quoted in increments of half a penny, rather than the current minimum size of 1 cent. This overhaul, which could constitute the biggest change in U.S. equity markets in nearly 20 years, is expected to lower fees that exchanges can charge brokers and address outdated rules. The reforms are part of SEC Chair Gary Gensler's broader market structure overhaul, including new tick-size regulations and 10 mil access fees.
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