The Securities and Exchange Commission has announced a proposed rule change by NYSE Texas, Inc., which aims to amend and reinstate certain rules regarding the roles and obligations of Market Makers. This change will harmonize NYSE Texas's rules with those of its affiliated exchanges, enhancing market quality and liquidity. The proposed amendments include updates to existing definitions, the registration process for Market Makers, and the performance standards they must meet. This effort is designed to promote consistency and competition across exchanges, benefiting overall market functionality.
Simple Explanation
The NYSE Texas wants to change some of its rules to make sure that the people who help buy and sell stocks, called Market Makers, follow the same rules as other stock exchanges. This is to help make buying and selling stocks smoother and better for everybody.