MIAX PEARL, LLC, a self-regulatory organization, has proposed a rule change to expand the number of Limited Service MEO Ports available to its members, doubling the potential from eight to ten for each "Matching Engine." This expansion plan is in response to increased customer demand and the need for more network capacity, which is partly driven by rising market volatility. The fees for these additional ports will remain the same, with the ninth and tenth ports costing $400 per month each, which is the current charge for the seventh and eighth ports. The Securities and Exchange Commission (SEC) is reviewing the proposal and invites public comments on it by January 26, 2021.
Simple Explanation
MIAX PEARL wants to let people use more of their special computer ports because more people need them to buy and sell things. They're not charging more money for this, but the folks in charge want to make sure there's no unfair advantage and that everything is fair and easy to understand.