recommend rules to ensure fair competition between exchanges, brokers By Reuters

© Reuters. FILE PHOTO: Gary Gensler testifies at a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill July 30, 2013. REUTERS/Jose Luis Magana/File Photo

By Katanga Johnson

WASHINGTON (Reuters) – Gary Gensler, who chairs the nation’s top markets watchdog, said on Wednesday that he has asked staff to recommend rules aimed at ensuring fair competition between exchanges and brokers.

The U.S. Securities and Exchange Commission (SEC) rules would address payment-for-order-flow and best execution among other issues, Gensler said at a virtual conference on financial technology and global markets at Piper Sandler.

“I’ve asked staff to make recommendations for the Commission’s consideration on best execution, Regulation NMS, payment-for-order flow, minimum pricing increments, and the National Best Bid and Offer, with the aim of continuing to make our markets as efficient as possible.”

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