On September 18, the U.S. Securities and Exchange Commission (SEC) hosted a roundtable to discuss trade-through prohibitions in the National Market System stock and listed options markets. Eleven panelists took part in Panel Three – Forward Thinking to debate the future of Rule 611 under Regulation NMS. But with all the changes in the market since then, panelists were asked whether Rule 611 still makes sense today. Is Rule 611 Outdated? Looking Beyond Rule 611: Exchanges, Revenue, and Market StructureThe discussion then shifted to how changes to Rule 611 might affect exchanges and the overall market structure.