In a significant move aimed at leveling the playing field for small investors, the Securities and Exchange Commission (SEC) recently voted to implement the most sweeping changes to U.S. stock market rules since the mid-2000s. These new regulations target two primary areas: tick size reduction and access fee cap reduction. The SEC's actions signal a commitment to promoting fairness and transparency in the markets, ultimately benefiting individual investors through increased competition for their orders. This is anticipated to lead to lower trading costs and the best possible prices. Furthermore, these changes aim to create a more balanced competitive landscape between traditional exchanges and the less regulated "dark pools" that have proliferated with the rise of electronic trading. The impact of these new rules on traders and exchanges is likely to be significant and will be closely watched until the rule change comes into effect in November 2025. Let’s take a closer look.