He added that alternative trading platforms like "dark pools" that wish to trade such stocks should be subject to a "trade-at" rule. The SEC says a “trade-at” requirement prevents price matching by a trading center that is not displaying the best bid or offer.
Nasdaq's Executive Vice President Nelson Griggs, focused more on rule changes and other steps that must be taken first to help small companies that are already public and may be struggling.
He noted that launching a new platform from scratch is "extremely challenging."
He added that the SEC should proceed with its tick-size pilot to study if liquidity and other areas of the market would be improved by widening the increments at which shares of smaller companies are traded.