Search Results for keywords:"Price Improvement Auction"

Found 3 results

Search Results: keywords:"Price Improvement Auction"

💰 Only
Oldest Newest
  • 2025-02324 — Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 3, Section 13 Concerning PRISM and Options 3, Section 15(b)(1) Concerning the Risk Protection Acceptable Trade Range
    Type:Notice
    Citation:90 FR 9176
    Reading Time:about 3 minutes

    Nasdaq BX, Inc. has proposed a rule change relating to options trading that was officially filed with the Securities and Exchange Commission (SEC) on January 28, 2025. This proposal seeks to adjust the handling of responses in their Price Improvement Auction (PRISM) and clarify the Acceptable Trade Range rules. The SEC has made this notice public to gather comments and feedback on whether the changes comply with existing laws. People interested in sharing their views can submit their comments by February 28, 2025.

    Simple Explanation

    Nasdaq BX wants to change some rules about how they sell things called options, like making sure they're the right price and how people can offer better deals. They asked the government for permission and want people to say what they think by the end of February 2025.

  • 2020-29135 — Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Utilize the FIX Protocol To Submit Orders to BX's Price Improvement Auction Mechanism
    Type:Notice
    Citation:86 FR 353
    Reading Time:about a minute or two

    Nasdaq BX, Inc. proposed a rule change to allow participants to use the Financial Information eXchange (FIX) protocol to submit orders to its Price Improvement Auction mechanism. This proposal was filed with the Securities and Exchange Commission (SEC) on October 27, 2020, and published for public comment on November 16, 2020. The SEC has decided to extend the review period for the proposed rule change until February 14, 2021, to have more time to consider the proposal and decide whether to approve or disapprove it. There were no public comments received about this proposal during the comment period.

    Simple Explanation

    Nasdaq BX wants to use a special computer language called FIX to help people buy and sell stocks faster and maybe save money. The decision about this change needs more time, so the SEC, which makes sure the rules are fair, will think about it until February 14, 2021.

  • 2021-03341 — Self-Regulatory Organizations; Nasdaq BX, Inc.; Order Granting Approval of a Proposed Rule Change To Utilize the FIX Protocol To Submit Orders to BX's Price Improvement Auction Mechanism
    Type:Notice
    Citation:86 FR 10363
    Reading Time:about 11 minutes

    Nasdaq BX, Inc. proposed a rule change that has been approved by the Securities and Exchange Commission to allow its participants to use the Financial Information eXchange (FIX) protocol in the Price Improvement Auction (PRISM) mechanism. This change lets BX Participants submit orders electronically while soliciting responses for initiating orders through a Request for PRISM, with interested recipients responding within a set period. The proposal aims to enhance the process of pairing orders by broadening the number of participants, improving price efficiency, and maintaining anonymity among traders. The rule is designed to prevent the misuse of non-public information and aims to align with fair trading practices.

    Simple Explanation

    Nasdaq BX, a stock exchange, is using a special computer language called FIX to make trading faster and fairer by letting more people join in bidding for stocks while keeping their identities secret. This change also has special rules to make sure everyone plays by the same rules and that no one uses secret information to cheat.