The Securities and Exchange Commission (SEC) has announced that NYSE Arca, Inc. filed a proposed rule change to modify its Options Fee Schedule. The modifications include increasing the required QCC volume for Floor Brokers to earn credits, introducing a new rebate based on combined QCC and manual billable volume, and adjusting the maximum combined credits and rebates for QCC and manual billable programs. Additionally, the proposed change allows Floor Brokers in the Fixed Cost Prepayment Incentive Program to maintain their status if they restructure. These changes became effective on January 14, 2025, and the SEC is inviting public comments on the proposal until February 13, 2025.
Simple Explanation
The SEC says that some rules about paying for trades on the NYSE Arca have changed, like how brokers can get discounts and what happens if they change their setup. People can tell the SEC what they think about these changes until February 13, 2025.