Citadel Securities, the market-making firm founded by billionaire Ken Griffin, has urged the U.S. Securities and Exchange Commission to reconsider its proposal to eliminate a longstanding regulation requiring stock trades to be executed at the best available price, according to a report by Reuters.
The firm warned that scrapping the so-called order protection rule could divert trading away from public exchanges, weaken market liquidity and potentially hurt retail investors. The proposal has emerged as one of the most significant U.S. market-structure debates in years because the rule is central to how equity orders are routed and executed.
