Type:Notice
Citation:89 FR 104253
Reading Time:about 2 minutes
Nasdaq PHLX LLC proposed a rule change to allow market makers to participate in Price Improvement XL auctions for Nasdaq-100 Micro Index Options. The Securities and Exchange Commission (SEC) initially had 45 days to approve, disapprove, or begin proceedings on this rule change, ending on December 21, 2024. However, the SEC extended this period to ensure they have enough time to consider the proposal thoroughly. The new deadline for a decision is February 4, 2025.
Simple Explanation
Nasdaq wants to change some rules so special people can help decide prices for tiny parts of a big stock group. The people who check if this is okay need more time, so they have until February 4, 2025, to decide.