On May 6, the Securities and Exchange Commission issued an order directing the equity exchanges and the Financial Industry Regulatory Authority to submit a new National Market System plan (NMS plan) with a modernized governance structure for the production of public consolidated equity market data and the dissemination of trade and quote data from trading venues. The order follows a Notice of Proposed Order issued on January 8, that was followed by an extended comment period. Until the SEC approves a new NMS plan, the current NMS plans will continue to govern.

More information is available here.