Alex Thorn: US SEC plans to repeal Reg NMS 611 clause

Galaxy Research Director Alex Thorn stated that the US SEC has proposed to repeal Reg NMS 611 and 610 (e) clauses, and the proposal has entered a 60 day public opinion solicitation period. The 611 clause requires trading venues to refer to the National Best Buy Sell Offer (NBBO) for transactions, and the Automated Market Maker (AMM) mechanism cannot meet this requirement. Abolishing this clause is expected to eliminate structural barriers to tokenized US stock trading.