Search Results for keywords:"Regulation NMS"

MEMX LLC has proposed changes to its fee schedule, which were filed with the Securities and Exchange Commission (SEC). The changes include increasing rebates for certain orders that add liquidity and increasing fees for orders that remove liquidity. The aim is to attract more orders to the MEMX exchange by offering competitive pricing. This proposal is publicly available for comments, allowing interested parties to share their views on the changes.

The Securities and Exchange Commission is reviewing non-substantive rules proposed by MIAX PEARL, LLC. These proposed changes are intended to clarify and update outdated rules in MIAX Pearl's Rulebook. Key changes include correcting the way certain information is announced, removing references to obsolete mini-options, and updating regulatory citations. The Commission is inviting comments from the public and has allowed these rule changes to be effective immediately, as they do not significantly impact investor protection or market competition.

NYSE Arca, Inc. has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend its "NYSE Arca Equities Fees and Charges" schedule. The amendment introduces a routing fee for the "Midpoint Ping" strategy, which allows market participants to route orders to other exchanges within the NYSE Group to access midpoint liquidity. The fee will be $0.0030 per share for securities priced at or above $1.00, or 0.30% of the dollar value for those priced below $1.00. The rule change is now effective, and the SEC is inviting public comments on this proposal until May 7, 2025.

The NYSE Arca, Inc. has proposed a rule to amend its fees and charges related to co-location services by adding two new Partial Cabinet Solution (PCS) bundles, named Options E and F. These new options update existing bundles with faster 40 Gb connections, compared to the previous 10 Gb, to meet customer demand for higher connectivity. Customers who subscribe to these new options by the end of 2021 will receive a 50% discount on monthly fees for the first year. The proposal aims to offer more options for users and ensure fair competition, and public comments are invited before a final decision is made.

The New York Stock Exchange (NYSE) submitted a proposed rule change to the Securities and Exchange Commission (SEC) to adjust its fee structure. The proposal introduces a fee of $0.0030 per share for orders using the new Midpoint Ping routing strategy. This strategy helps direct trades to various NYSE-affiliated exchanges to find the best prices, but it is entirely optional for member organizations. The proposed fee change aims to balance competition and improve member organizations' access to liquidity in the stock market.

MIAX Emerald, LLC filed a proposed rule change with the Securities and Exchange Commission to remove outdated references to mini-options from its rulebook and update certain rule citations. The aim is to clarify the rules for the benefit of investors and to eliminate any potential confusion. The commission decided that the rule change could take effect immediately upon filing because it does not pose any novel regulatory issues. Public comments on the proposal are being solicited before February 20, 2025.

The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to extend the information collection requirements under Rule 606 of Regulation NMS. Rule 606 mandates that broker-dealers disclose certain information about their order routing practices to ensure transparency, particularly regarding stocks and options. The SEC estimates that compliance with this rule involves a significant annual time burden of 183,000 hours and an annual cost burden of $1,300,000 across the industry. The public is invited to comment on this request by February 18, 2025.

The Securities and Exchange Commission has announced that Cboe EDGX Exchange proposed a new rule to allow the listing and trading of options on the Fidelity Ethereum Fund. This fund is an Ethereum-backed commodity ETF that provides a way for investors to gain exposure to Ethereum without directly dealing with the digital currency. The proposed rule ensures the fund meets necessary listing and trading standards, including criteria for underlying securities, position limits, and surveillance measures to protect against market manipulation. Additionally, options on this fund can be traded in a regulated environment, providing transparency and efficiency benefits compared to the over-the-counter market.