U.S stock exchanges have urged the Securities and Exchange Commission (SEC) to postpone a rule which will stop direct access to the markets by traders, Financial Times reports. NYSE Euronext, Nasdaq OMX, BATS Global Markets and Direct Edge have asked SEC to delay the naked access ban until Nov. 30, 2011, adds Reuters. The rule is mainly related to the exchanges’ internal broker-dealer subsidiaries that route trades to other markets. The exchanges have listed about 35 questions, related to the way broker dealers would perform the risk checks required by the rule to get a clear interpretation of the plan.
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