SEC Issues Order to NASDAQ Granting Extension to Limited Exemption from Reg. NMS

The SEC issued an order to the NASDAQ Stock Market LLC ("NASDAQ") granting an extension of the limited exemption from Rule 612 ("Minimum Pricing Increment") of Regulation NMS in connection with the operation of NASDAQ's Retail Price Improvement Program.

On February 15, 2013, the SEC granted a limited exemption to NASDAQ concurrent with the approval of NASDAQ's proposal to adopt the Retail Price Improvement Program. Both the pilot program and the exemption are scheduled to expire on September 30, 2014.

For that reason, the limited exemption was extended until December 31, 2014, and allows NASDAQ to accept and rank orders priced equal to or greater than $1.00 per share in increments of $0.001, in connection with the operation of its Retail Price Improvement Program.

See: SEC Order.