The US Securities and Exchange Commission has withdrawn its 'no-action' letter from MarketXT, the US electronic communication network (ECN), removing the organisation's status as an ECN.

In March, the SEC extended MarketXT's ECN status, originally bestowed on January 4. The no-action status means the SEC does not take enforcement action against Nasdaq market makers who are participants in an ECN, if they enter orders without modifying their public quotations in compliance with the ECN Amendment.