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September 12, 2018 TO: Equity Markets Advisory Committee RE: Tick Size Pilot to End on Friday, September 28
The Securities and Exchange Commission recently announced that it will allow the Tick Size Pilot Program to terminate at the end of trading on Friday, September 28, 2018. The pilot was scheduled to expire at the end of trading on Tuesday October 2, 2018, but the Commission received several requests to terminate the pilot earlier to alleviate potential operational and other concerns raised by a mid-week shift in the quoting and trading increments of a large number of NMS stocks. The Commission granted these requests in an exemption issued on September 10, 2018.
Accordingly, pilot securities will no longer be subject to the quoting and trading requirements of the Tick Size Pilot and will be subject to the same quoting and trading requirements as other NMS stocks on Monday, October 1, 2018.
George M. Gilbert
Assistant General Counsel