Market regulation · 03/12/2012

NYSE Proposes Rule Change to Pegging Interest on Trading Floor

The New York Stock Exchange (NYSE) has filed a proposed rule change to move the rule text related to pegging from NYSE Rule 70 to NYSE Rule 13, allowing designated market makers to set their interest as pegging interest. The change also updates references to best bid and offer to best protected bid and offer, and permits pegging interest to be pegged to the opposite side of the market, with an offset value to be specified.