The Securities and Exchange Commission is in favor of a pilot program to test the tick size for smaller public companies. "There seems to be a lot of support for a pilot program, and we think that makes sense," said John Ramsay of the SEC. "We're still working through the details of how it should be structured." The Jumpstart Our Business Startups Act mandates that the SEC examine how rules forcing stocks to trade at a penny increment influence liquidity for smaller companies. Sign up for SIFMA's 40th Annual Operations Conference and Exhibit.