June 6 (Reuters) – The US Securities and Exchange Commission (SEC) is preparing to propose big changes to the stock market that could reshape how it operates, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Staffers at the SEC have begun floating plans with market participants in recent weeks, with Chairman Gary Gensler planning to detail a few of the potential changes in a speech on Wednesday, the report said.
The SEC did not immediately respond to a request for comment from Reuters.
One suggestion by the SEC staff that has gained traction is to require brokerage firms to have majority of individual investors’ orders routed into auctions where trading companies compete to execute them, the WSJ said.
SEC officials are also aiming to reduce the maximum fee that exchanges can charge brokers to access their quotes, the report added.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli)
This article originally appeared on reuters.com