SEC lays ground for real-time Web stock quotes

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission on Wednesday laid the groundwork that could lead to Web sites such as Google Inc and Yahoo Inc publishing real-time stock quotes.

Most sites not associated with a broker now show U.S. stock quotes with a 15- or 20-minute delay, unless end users pay.

The SEC said it published for public comment an order approving a proposal from NYSE Arca, NYSE's online exchange, that would give Internet sites real-time trading data for a fee.

NYSE Arca's 2006 proposal has been central to a debate over how much stock exchanges can charge websites for real-time last-sale prices. Larger sites have pushed vigorously for SEC approval of a fee structure, but smaller sites argue the fees would be too expensive for them also to list real-time quotes.

An SEC spokesman said the draft order approving NYSE Arca's proposal sets forth an approach for the SEC to evaluate the reasonableness of trade data fees that rely primarily on market forces, so long as the market is sufficiently competitive.

Major exchanges are keen to sell websites last-sale stock prices for a monthly fee, as new securities regulations make market data distribution easier. The sales would add to profits at a time of increased competition among global exchanges.

The SEC spokesman said its move on NYSE Arca's fee proposal is not final, and the exchange cannot charge them until the SEC issues a final approval. After the 30-day comment period, the SEC will decide whether or not to approve the fees, he said.

(Reporting by Karey Wutkowski; Editing by Braden Reddall)