(Bloomberg) — The Financial Industry Regulatory Authority said the U.S. Securities Exchange and Commission approved itsrulechange to limitself-trading last week.
The change toRule5210 requires companies to have policies and procedures reasonably designed to review theirtradingactivity for, and prevent, a pattern or practice ofself-tradesresulting from orders originating from a single algorithm ortradingdesk, or related algorithms ortradingdesks, Finra said in a statement.
Finra said it will announce an effective date for the change in the near future.
