Nasdaq PHLX LLC proposed a rule change to amend Options 8, Section 22, which deals with options transactions on the trading floor. This change involves relocating certain rule text without changing the requirements, and updating citations in another section to match these amendments. The rule change became effective immediately after filing, as it does not significantly impact investor protection or competition. The Securities and Exchange Commission is inviting public comments on whether this proposed change is appropriate.
Simple Explanation
Nasdaq PHLX LLC is changing some rules about how certain options are traded, like moving words around without changing what they mean, so people know where to find them. The SEC, which makes sure trading rules are fair, wants to know what people think about these changes and is asking them to share their thoughts.