The SEC’s Order Handling Rules of 1997 and Beyond: Perspective and Outcomes of the Landmark Regulation
研究了1997年美国证监会订单处理规则的出台背景及后续影响，由时任市场规制主任Richard Lindsey评估该规则如何改变美国股市竞争格局，适合关注证券监管与市场结构变迁的读者。
In 1997, enactment of the Securities and Exchange Commission’s Order Handling Rules ushered in a period of profound and unprecedented change in the competitive structure of the U.S. equity markets. In this article, the authors examine the crucial forces that led to this regulation, and focus on significant developments in the years that followed. Of major importance is the assessment of one of the authors, Richard Lindsey. As the SEC’s Director of Market Regulation during this tumultuous period, Lindsey was the chief intellectual force—and the architect of the Order Handling Rules that transformed markets. <b>TOPICS:</b>Fundamental equity analysis, equity portfolio management