Reg NMS to help or hurt system?

The NYSE took PR hit for its technology jam up on the day of the big plunge. What timing. The plunge occurred just as Reg NMS was ready to take effect. As it turns out, the NYSE has received an extension from the Securities and Exchange Commission. It now has until April 5 to comply with the new measures designed to create more of a national market by enforcing a best bid rule across all markets. The NYSE apparently needs more time to link to other trading venues, such as the International Securities Exchange and Knight Trading's Direct Edge. The NYSE says it is already compliant with the new regulation. Given recent volume spikes, you have to wonder if now is a good time to implement. There is a good bit of anxiety about this, and a further delay may not be such a bad thing.

For more:
- here's an update from Forbes