What is Rule 611 and has it changed trading rules?

Before discussing it at the Securities and Exchange Commission... what is #Rule611 and has it changed trading rules?

The U.S. Securities and Exchange Commission (#SEC ) announced that it will hold a roundtable meeting on Tuesday, December 16, 2025, to discuss the regulation known as Rule 611 within the NMS (National Market System) rules, which are the regulatory rules issued by the commission to regulate U.S. stock markets.

The commission clarified that this meeting is a follow-up to a previous roundtable held on September 18, 2025, dedicated to discussing the ban on trading through certain trading platforms, along with other related regulatory rules and requirements concerning market structure.

👈What is Rule 611?

It is a regulatory rule issued by the U.S. Securities and Exchange Commission (SEC) within the framework of #RegulationNMS (#NationalMarketSystem ), aimed at regulating the execution of trading orders in U.S. stock markets in a fair and organized manner.

This rule is also known as #OrderProtectionRule , and it obligates trading platforms and brokerage firms to:

♦️Execute buy and sell orders at the best available price in the market.

♦️Not direct trades to a platform offering a worse price just because it is faster or less costly for the broker.

👈Purpose of the Rule

Rule 611 requires brokerage firms to execute trades at the best available national price. In other words, if there is a better price available on another exchange, the broker must take the necessary steps to ensure the trade is executed at that better price.

The rule primarily aims to:

📌Regulate high-speed trading

📌Enhance market fairness

📌Achieve a balance of power between large financial institutions and individual investors

👈Importance of Rule 611

The rule is a fundamental pillar of market regulation because it provides:

📌Protection for individual investors from price exploitation

📌Regulation of high-frequency trading practices

📌Connecting different exchanges to obtain the best possible price

📌Enhancing transparency in financial markets and reducing price manipulation

Rule 611 obligates all market participants, including exchanges, brokerage firms, and market makers, to comply with its provisions when executing trades. Non-compliance with this rule can lead to regulatory violations and penalties imposed by the U.S. Securities and Exchange Commission.

Source: SEC + NAS,,DAQ Rules

$BTC ‌
$ETH ‌
$GT ‌