SIFMA Statement on SEC Staff Report on Equity and Options Market Structure in Early 2021

Washington, D.C., October 18, 2021 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on the SEC Staff Report on Equity and Options Market Structure in Early 2021: 

“The U.S. equity markets are the deepest, most liquid and most efficient in the world, with investors, in particular retail investors, benefiting from narrower spreads, lower transaction costs and faster execution speeds.  Efficient and resilient market structure is key to sustaining investor confidence and participation in the equity markets.

“Notwithstanding the positive growth and evolution of the U.S. equity markets, SIFMA and our members have long called for the SEC to consider improvements to reflect that continued evolution.  But any changes to market structure should seek to build on the benefits achieved by investors and issuers.  To that end, SIFMA has been engaged in conversations with our broad membership on the equity and options market structure, including but not limited to issues raised for consideration in the report.

“As we review the SEC staff report and recommendations, we look forward to continued engagement on these issues to ensure we meet the goal of regulators and market participants:  to promote market resiliency and ensure the U.S. equity markets continue to benefit investors and play an essential role in capital formation.”


SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit