#USHouseMarketStructureDraft #USHouseMarketStructureDraft

- The US House Market Structure Draft is related to the regulation and oversight of the US securities markets. A key discussion in this area revolves around the National Market System (NMS) and its components, such as ¹:

- *Market Structure Issues*: The Securities and Exchange Commission (SEC) is working to address concerns around market structure, including fair access, market data, self-regulatory models, and exchange registration.

- *Trade-Through Rule*: The trade-through rule is a critical aspect of market structure, aiming to ensure that trades are executed at the best available price across different markets.

- *Self-Regulatory Organizations (SROs)*: SROs play a vital role in regulating markets, but potential conflicts of interest arise when they operate as for-profit entities.

- *Market Fragmentation*: The proliferation of electronic communication networks (ECNs) and alternative trading systems (ATSs) has led to market fragmentation, raising concerns about market efficiency and fairness