Opinion Issued in The NASDAQ Stock Market, LLC v. SEC Case

Opinion Issued in The NASDAQ Stock Market, LLC v. SEC Case

The U.S. Court of Appeals for the District of Columbia Circuit issued its opinion in the longstanding The NASDAQ Stock Market, LLC v. SEC case.  The opinion, which is an interesting (and short) read can be found here.  In general, the court sided with the exchanges and ruled that some fee increases can’t be challenged by the government after they have taken effect.  The court did not pass judgment on whether the fees are fair, but said the SEC can’t reject the fees by finding that they amount to a “denial of access” to the exchanges’ trading services.