The Securities and Exchange Commission is reviewing a proposed rule change filed by The Nasdaq Stock Market LLC. Nasdaq wants to share an early version of order imbalance information, adjust certain time limits for market orders during its Opening Cross auction, and extend the deadline for submitting some types of orders. These changes aim to improve price discovery and market stability during the opening of the trading day by giving participants more information and flexibility. The commission is asking for public comments on this proposal to help them decide whether to approve or disapprove the changes.
Simple Explanation
Nasdaq wants to share a sneak peek of stock orders before the market opens, change some times when you can buy or sell at the start of the day, and give extra time for certain orders. They're asking people to say what they think about these changes to make sure everything runs smoothly when the market opens.