Cboe BZX Exchange, Inc. is proposing a change to its fee schedule by eliminating two specific routing fee codes, 8 and MX, due to minimal usage. These codes relate to orders routed to NYSE American with specific strategies. Instead, affected orders will now fall under fee code X, which applies to all other unspecified routed orders. The proposal aims to streamline operations and ensure competitive pricing, as the market environment allows participants to choose between various trading platforms based on their fee preferences. The Securities and Exchange Commission (SEC) invites public comments on this proposed rule change.
Simple Explanation
Cboe BZX Exchange is changing its price list by getting rid of two special codes because hardly anyone uses them; now, those orders will just use a different code that fits most orders. The SEC is asking people what they think about this change.