Citadel Securities Pitches Lower Tick-Size Pilot Program to SEC

Citadel Securities asked the Securities and Exchange Commission to test reducing the price increments that some stocks and ETFs trade at before embarking on major market structure changes.

In a letter submitted to the SEC, Citadel Securities urged Wall Street’s top regulator to run a two-year pilot program with the 60 most liquid stocks. Half of them could be subject to quotations in half-penny increments and the other half would remain a control group at full penny increments.