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SEC May Allow Subpenny Pricing for More Stocks, Shillman Says

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DOLLAR STOCKS, PENNY PRICES
"The U.S. Securities and Exchange Commission will probably consider allowing more stocks to trade in price increments of less than 1 cent, according to David Shillman, associate director of the agency’s Division of Trading and Markets," Bloomberg reports. "The number of exchange-listed companies trading between $1 and $10 has surged to about 1,980 from 965 three years ago following the worst financial crisis since the Great Depression, according to data compiled by Bloomberg. Traders are shifting to private venues to execute orders in smaller increments because exchanges aren’t permitted to use subpenny pricing for those stocks, said Jeffrey Davis, deputy general counsel at Nasdaq."
SOURCE:   Bloomberg

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