System Collaboration And Financial Management Agreement (Sifma)

The SEC is also developing a new national internal market system plan that governs the public release of consolidated real-time stock market data for outstanding national market system (NMS). Known as the ct plan, this will consolidate three market data plans into one plan to regulate the distribution of stock market data, reduce duplication between plans, and eliminate conflicts of interest for exchanges as SIPS operators. In December 2020, the SEC announced the adoption of rules on market information infrastructures under the NMS Regulation. SIFMA strongly supports the unanimous adoption of the infrastructure proposal by the SEC, as it is a positive step towards making additional critical data available to investors in the market and combating current conflicts of interest for the exchange of SIP data and proprietary feed exchanges. . . .