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Stock Exchanges Hit by SEC Curb on Power to Raise Some Fees (1)

Aug. 20, 2020, 12:10 AM

The New York Stock Exchange, Nasdaq and their peers will have to seek public comment and get U.S. Securities and Exchange Commission approval to change how much they charge for widely-used, basic price data under rules adopted Wednesday.

The move to finalize a measure proposed in October continues an SEC effort to rein in exchanges’ ability to raise fees by rescinding an exemption the companies had used for years to make adjustments collectively without approval through so-called national market system plans.

Under Chairman Jay Clayton, the SEC has frequently clashed with Intercontinental Exchange Inc., which runs NYSE, ...

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