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CFA Institute-commissioned report reveals trade-at rules offer a mixed bag for investors.


As the SEC proposes to include a “trade-at” rule in one tranche of the forthcoming “tick-size” pilot study of small-cap stocks in the United States, CFA Institute has commissioned a study of the early experience of similar price improvement rules in Canada and Australia.

Jim Allen, CFA, head of Americas capital markets policy at CFA Institute, and Rhodri Preece, CFA, head of capital markets policy for the Europe, Middle East, and Africa (EMEA) region at CFA Institute, discuss the new report, which reveals that trade-at rules offer a mixed bag for investors. Says Allen, “What this tells us is that trade-at rules are not necessarily a panacea for dealing with dark trading ….” Watch the video for more on the report, findings, and policy implications.

About the Author(s)

Crystal Detamore
Crystal Detamore

Crystal Detamore is director of communications for the Standards and Advocacy division at CFA Institute.