The Globe and Mail reports in its Thursday edition that the U.S. Securities and Exchange Commission on Wednesday unanimously voted to allow stock exchanges to price many shares in increments of half a U.S. cent, rather than the current minimum of one U.S. cent, aiming to promote more competitive pricing and reduce investor costs. A Reuters dispatch to The Globe says the new rule should also help stock exchanges compete with off-exchange trading venues, which represent nearly half of trading volume and can already offer smaller price increments. After the vote by the commission's five members, SEC chair Gary Gensler said the new rules would promote transparency, fairness and efficiency. The new rule marks another step in the SEC's plans to adopt what would be the most important market structure reforms in nearly 20 years. However, the SEC faces election-year headwinds in completing all the changes unveiled in 2022. The rules apply to the highly technical space between prices stock sellers are willing to accept in a trade and what buyers are willing to pay, known as the bid-ask spread. Experts say hedge funds and institutions are the biggest beneficiaries, while retail investors will only rarely notice the difference.