The focus of the Wednesday session was, of course, on the Federal Open Market Committee (FOMC).
But, ICYMI, a development for stock exchanges of note.
The share market top regulator, the U.S. Securities and Exchange Commission (SEC),has voted to allow stock exchanges to price many shares in increments of half a cent, rather than the current minimum size of 1 cent.
- The move is aimed at promoting more competitive pricing and reducing investor costs.
- SEC Chair Gary Gensler said the new rules would promote transparency, fairness and efficiency
- “That goes to the heart of the SEC’s mission. The reforms are pro-investors. They are pro-capital formation”
Info comes via various media reports.
SEC Chairman Gensler with the other 0.5 cut today!