Search Results for keywords:"fair trading practices"

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Search Results: keywords:"fair trading practices"

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  • 2025-01290 — Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing of a Proposed Rule Change to Adopt Rules to Govern the Trading of Options on the Exchange for a New Facility Called IEX Options
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    Type:Notice
    Citation:90 FR 7205
    Reading Time:about 2 hours

    The Investors Exchange LLC (IEX) has proposed a new rule to create an options trading facility called "IEX Options." This facility will be a fully automated system designed to trade options contracts, similar to other options exchanges. The plan includes implementing guidelines to protect Market Makers from risks, like the execution of outdated quotes, and to ensure fair trading practices. IEX will also adopt certain rules from other exchanges to maintain fairness and efficiency in the options market. The Securities and Exchange Commission is inviting public feedback on this proposal.

    Simple Explanation

    Imagine IEX is like a new playground for trading money things called "options." They want to make sure everyone plays fair, so they are making new rules like other playgrounds have. But, some people worry it might be tricky to understand how everything works because there are so many rules borrowed from other places.

  • 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.

  • 2024-28897 — Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving a Proposed Rule Change To Amend NYSE Rule 7.31(f)(1)
    Type:Notice
    Citation:89 FR 99320
    Reading Time:about 12 minutes

    The Securities and Exchange Commission has approved a proposed rule change by the New York Stock Exchange (NYSE) to amend NYSE Rule 7.31(f)(1). This change will allow Directed Orders, which are specific types of trades, to be routed to broker-dealer algorithms instead of just to alternative trading systems (ATS). This update is intended to give member organizations more flexibility and choice in how they route orders, potentially improving operational efficiency. The NYSE will not control the selection of the algorithm, and will not have visibility into how or where an order is executed by the algorithm.

    Simple Explanation

    The agency in charge of keeping stock markets fair has approved a change in the rules to let certain trades be handled by smart programs chosen by the people making the trades. This might make trading smoother, but there's not much information on how safe and fair it will be when these smart programs do the work.