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On May 6, 2015, the SEC issued an order approving a plan under the National Market System (NMS) for the National Securities Exchanges and FINRA to implement a Tick Size Pilot Program, which is a data-driven test to evaluate whether or not widening the tick size for securities of smaller capitalization companies would positively impact trading, liquidity, and market quality of those securities. The program will commence October 3, 2016 in phases, with a full roll out completed on October 31, 2016.
Read an overview of the program here.