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REG NMS: Time Is A Luxury The NYSE Does Not Have

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The New York Stock Exchange is out of compliance with REG NMS, an SEC rule requiring that certain order get routed through various exchanges in order to bring customers the best price, according to CNBC's Charlie Gasparino. The NYSE had requested a delay on Friday, saying it could not meet today's deadline for compliance. Apparently the SEC rejected the request over the weekend.
Here's the Reuters story reporting the NYSE request for more time.

NYSE Group has requested the U.S. Securities and Exchange Commission grant it relief from securities regulations that would oblige the New York Stock Exchange to route orders to certain markets, according to a public filing.
Those markets include a stock exchange operated by the International Securities Exchange and alternative trading platforms regulated by the NASD, one of the securities industry's self regulatory organizations.
The NYSE, the largest U.S. stock exchange, and ISE, the largest U.S. electronic options exchange, both declined to comment.
The regulations, called Reg NMS, or Regulation National Market System, some of which come into effect on Monday, would require automated, or "fast," markets to route orders according to the best available price.
NYSE has requested the deadline be pushed back to April 5 from March 5 for its obligation to route orders as required by new regulations to the International Stock Exchange and NASD Alternative Display Facility participants, which include Direct Edge, LavaFlow, Inc., and Track Data Securities Corp., according to the NASD website.
NYSE had requested in January that a Feb. 5 deadline for the regulations be delayed until March.

NYSE requests SEC relief from upcoming regulations