Regulation NMS Amendments (March 18, 2025)

Dear FIF Members,

FIF has scheduled a call for the Equity Market Regulations Working Group for Tuesday March 18, 2025 at 3 pm ET. The following are the agenda items for this call:

• Issues and questions from FIF members (see attached)
  • Scenario where SEC stay is lifted
  • Transparency of fees
  • Round lot reference data
  • Round lot calculation methodology
  • Odd lot data
  • Market structure
  • Algos / strategies
  • CAT / cost
  • Supervisory policies
  • Best ex implication
  • Testing / go-live
  • Timing

Attached is a summary of the prior FIF Working Group discussions.

Please send an email to fifinfo@fif.com with any questions or suggestions.

Best Regards,

FIF