Search Results for keywords:"barrier to entry"

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Search Results: keywords:"barrier to entry"

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  • 2021-01940 — Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX PEARL Options Fee Schedule for Member and Non-Member Monthly Network Connectivity Fees
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    Type:Notice
    Citation:86 FR 7582
    Reading Time:about 40 minutes

    This document from the Securities and Exchange Commission outlines a proposed rule change by MIAX PEARL, LLC regarding its fee schedule for network connectivity. MIAX PEARL plans to raise the monthly network connectivity fees for its 10 gigabit ultra-low latency (ULL) connections from $9,300 to $10,000 for both members and non-members. The Exchange argues that these fees are necessary to cover the costs of maintaining its network infrastructure and that the change is reasonable and fair. The SEC is seeking comments on this proposal to ensure transparency and fairness in the setting of fees.

    Simple Explanation

    MIAX PEARL wants to charge people more money each month to use their special fast internet connections. They say these new fees will help them keep their internet working well, but some people are worried it might be too expensive for smaller businesses, and the rules are hard to understand.

  • 2021-03724 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Pricing Schedule at Equity 7, Section 3
    Type:Notice
    Citation:86 FR 11343
    Reading Time:about 12 minutes

    Nasdaq PHLX LLC has filed a proposal with the Securities and Exchange Commission to modify its pricing schedule related to the Qualified Market Maker (QMM) Program. The changes include increasing the required percentage of time a member organization must quote at the national best bid and offer (NBBO) from 10% to 15% to qualify as a QMM. This adjustment aims to boost liquidity, enhance price discovery, and overall improve the equity markets' quality. The rule change has become effective but may still be suspended by the Commission if necessary to protect investors or in the public interest.

    Simple Explanation

    Nasdaq wants some of the companies trading on their platform to be really good at offering the best prices. They decided these companies need to do this 15 times out of every 100 chances to get a special title, which they hope will help them all see how much things should cost and make trading better for everyone.