The New York Stock Exchange (NYSE) submitted a proposed rule change to the Securities and Exchange Commission (SEC) to adjust its fee structure. The proposal introduces a fee of $0.0030 per share for orders using the new Midpoint Ping routing strategy. This strategy helps direct trades to various NYSE-affiliated exchanges to find the best prices, but it is entirely optional for member organizations. The proposed fee change aims to balance competition and improve member organizations' access to liquidity in the stock market.
Simple Explanation
The New York Stock Exchange wants to change its pricing to add a new tiny fee for a special way of trading stocks so that they can find the best prices. This might help people buy and sell stocks more easily, but it's a bit tricky to understand how it will affect everyone.