Half-Penny Tick Sizes Under Rule 612
Half-penny tick sizes under SEC Rule 612: which stocks qualify for the $0.005 increment, and how the time weighted average quoted spread is measured.
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The Sub-Penny Rule and Price Improvement
Rule 612, the sub-penny rule, bans quotes in fractions of a cent above $1.00. Here is why your fill still printed at four decimals, with real tape data.