SEC Eases Order-Handling Rules Deadline

The Securities and Exchange Commission said it is easing deadlines and certain other provisions of new stock-order-handling rules that are scheduled to be in force by Jan. 10. The action was in response to reactions to the rules, adopted in August, the agency said. In general, the rules call for a wider display of limit orders--those in which a customer wants to buy or sell a stock at a specific price and not at the prevailing market price. The rules also call for giving investors a chance to view all limit order prices posted on private electronic trading screens that otherwise would not be readily available. Whereas the SEC adopted the rules as final, however, it still sought comments, particularly from exchanges and broker-dealers on whether certain changes may be needed. The SEC said the no-action position will be effective until April 10, 1997.