Securities and Exchange Commission Chairman William Donaldson made an effort to implement a trade-through-rule plan passing the objections of Republican commissioners the criticism from allies in Congress.

At yesterday’s tense meeting, the SEC voted a splitting resolution about the pro-investors offer to buy or sell stock filled at the best price. The order-protection regulation is expected to cover all marketplaces and enable investors to get the best price.

The New-York Stock Exchange and electronic markets such as Nasdaq are protesting this rule. The reform is undesirable for the NYSE as its floor brokers and some other services would be out of jobs. Nasdaq, in its turn, would feel limited with marketplaces.

In addition to Donaldson’s troubles with businesses, the severe congressional criticism of the splitting voting added fuel to the fire.

However, Donaldson’s position will remain comparatively strong and stable as far as he enjoys the backing from the White House. Yesterday, Administration spokesman Trent Duffy said with regard to the vote, "we support the independence of the SEC," noting that "the president continues to have confidence in Chairman Donaldson."

Mr. Donaldson tried to soft-pedal the meaning of clash at yesterday’s split vote, saying, "This is, as far as I’m concerned, not a political issue."