Approval from the US Senate follows the appointment of Gary Gensler as chairman of the SEC in January earlier this year.
The US equities periodic auctions are expected to launch at Cboe during the third quarter of this year.
Research by Greenwich Associates found that only 44% of US buy-side firms thought the SEC’s proposed ruling on electronic treasury trading venues would benefit the market.
Nasdaq, Cboe, and NYSE have sued the US regulator over its decision to overhaul real-time consolidated data feeds for the US equities market, also known as SIPs.
Gary Gensler becomes chairman of the Securities and Exchange Commission (SEC) bringing with him over 25 years of industry experience.
The US watchdog has asked market participants to submit comments on how they would enhance the way the data is collected for FINRA’s TRACE for US Treasury securities.
Brett Redfearn has been director of the trading and markets division at the SEC since October 2017.
The decision to overhaul market data feeds in the US could bring more competition to the space and decrease escalating data costs for investors.
Jay Clayton will conclude his tenure as chairman of the SEC after more than three and a half years by the end of this year.
A study from Market Structure Partners carried out for the European Commission has recommended the EU moves forward with plans to form a consolidated tape.