Regulation

SEC launches metrics-based investor website to aid market structure debate

140px-US-SecuritiesAndExchangeCommission-Seal.svgThe SEC unveiled a new website on Wednesday that will provide investors with the ability to interact and explore a number of new market metrics, as well as access research and analyses that add to the public debate on market structure.

The new website, which is located at www.sec.gov/marketstructure, will serve as a central area for the SEC to share data, research and analysis.

“We are launching what we believe to be a game changer that focuses the market structure debate as never before on data and analysis rather than anecdote,” SEC Chairman Mary Jo White, who unveiled the website at an SEC news conference, said. “We’ve made great strides here at the SEC transforming how we take in market data, store it, and share it throughout the agency. By also making this information publicly accessible, two great things should happen. It should increase efficiency so people don’t have to struggle to find this information. And it should spur innovation by unlocking the power of data and research to unlock a wealth of ideas from investors, market participants, and academics.”

Earlier this year, the regulator launched its internal market information data analytics system, which provides the SEC with data on every order posted on national exchanges. Each day, MIDAS collects one billion records time-stamped to the microsecond.

The SEC said in its press release that the next step is “to disseminate the aggregated data and related observations” discovered through MIDAS and to share it with the public. The new website allows users to scan market metrics and trends based on aggregate analyses of MIDAS records over the past year.

Site users can also compare and contrast data series based on a number of factors, as well as explore quote-life distributions and download data series.

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