On April 17, the Securities and Exchange Commission announced that its Equity Market Structure Advisory Committee (Committee) will hold its first meeting on May 13. The Committee, which was created earlier this year to formally solicit advice and recommendations related to equity market structure issues, will focus on Rule 611 of Regulation National Market System at the meeting. Among other things, Rule 611, known as the order protection rule, requires a trading center, which includes national securities exchanges, exchange specialists, alternative trading systems, over-the-counter market makers and block positioners, to establish, maintain and enforce written policies and procedures that are reasonably designed to prevent trade-throughs—the execution of trades at prices that are inferior to displayed and immediately accessible quotations at other trading centers—or, if relying on one of the rule’s defined exceptions, that are reasonably designed to ensure compliance with such exception.

Interested persons may submit comments on the Committee’s agenda prior to the meeting.

The SEC’s announcement is available here.