SEC Rule 201: The Alternative Uptick Rule

The SEC has introduced Rule 201 under Regulation SHO to go into effect on February 28, 2011. The new rule, alternatively known as the Alternative Uptick Rule, establishes a new price test on certain short sale orders.  ITG has made changes to its order routing and execution systems to prepare for the new Rule. We have prepared a complete letter to this effect, describing the new Rule and the changes to ITG systems. That letter can be found here.

If you have any questions regarding Rule 201 please contact ITG’s Compliance Department at 212-588-4000.