SEC provides details of 5-cent tick test

The US regulator unveiled plans for a one-year test of trading in some stocks in five-cent increments after more than a decade of trading in pennies

The Securities and Exchange Commission unveiled plans for a one-year test of trading in some stocks in five-cent increments after more than a decade of trading in pennies.

The highly anticipated plan is designed to determine whether trading in certain stocks, especially less heavily traded shares, could be improved with a wider spread, or "tick," between the prices investors offer to buy and sell for.

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