U.S. exchanges have asked to delay key changes to market-access rules until Nov. 30, citing cost concerns and questions over the role of broker-dealer units run by the exchanges.

The exchanges cited "a number of interpretive issues" as they requested more time to prepare for the changes, set to take effect on July 14. The appeal was made in a letter to the Securities and Exchange Commission dated June 20 that was reviewed by Dow Jones Newswires.

The exchanges requested the extra time to "complete the development and implementation of the compliance controls...that will be appropriately tailored to routing broker-dealers." They also said they "have concerns that the costs associated with the implementation and maintenance of [the changes] may be materially in excess of the costs" estimated by regulators.

The letter to the SEC was co-authored by officials at Bats Global Markets, Nasdaq OMX Group Inc. (NDAQ) and NYSE Euronext (NYX).

-By Brendan Conway, Dow Jones Newswires; 212-416-2670; brendan.conway@dowjones.com

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