SEC votes to repeal best-price rule, aiming to boost market competition

The U.S. Securities and Exchange Commission (SEC) scheduled a vote for the week of June 9, 2026, to repeal Rule 611 of Regulation NMS.

This regulation, known as the trade-through rule, has mandated for two decades that trades execute at the best available price across all exchanges.

SEC Chairman Paul Atkins argues the rule stifles competition, increases costs, and causes market fragmentation.

A repeal would allow alternative trading venues to prioritize execution speed over price, increasing competition for major exchanges like Nasdaq.

The SEC also intends for the move to facilitate the trading of tokenized securities.