Number: RL32788
Title: Trade-Through Rule Reform: The SEC's Depth of Book Alternative
Authors: Gary Shorter, Government and Finance Division 
Abstract: This report provides an examination of the highly controversial and ultimately rejected DOB proposal. It begins by providing background on the DOB's regulatory origins, then examines: (1) the mechanics of the DOB and some of its precedents; (2) the central arguments and counter arguments surrounding the DOB; (3) how a DOB might have affected institutional investors; (4) technology and cost issues surrounding a DOB; and (5) how the DOB would have fit into the broker's duty of best execution.
Pages: 13
Date: December 14, 2005