On September 19, 2024, MX2 LLC applied to the Securities and Exchange Commission (SEC) for registration as a national securities exchange under the Securities Exchange Act of 1934. The company later submitted an amendment to its application on November 29, 2024. MX2 plans to operate an automated electronic trading platform without a physical trading floor, allowing broker-dealer members to trade NMS stocks. The SEC is seeking public comments on MX2's application to determine if it meets the necessary requirements and will decide whether to grant the registration based on these assessments.
Simple Explanation
MX2 LLC wants permission to start a new stock trading place online, where people can buy and sell shares using computers instead of going to a real building. The government is asking people to say what they think about this idea to help decide if it's okay.