MIAX PEARL, LLC has filed a proposed rule change with the Securities and Exchange Commission (SEC) to amend its Exchange Rule 2613(a) in order to update the name of "NYSE Chicago, Inc." to "NYSE Texas, Inc." This amendment is intended to align the rule with the recent organizational change where NYSE Chicago was converted from a Delaware corporation to a Texas corporation and renamed. The change is considered non-substantive and is designed to provide clarity and reduce potential confusion for investors and market participants. The SEC has allowed the rule change to take immediate effect, as it does not pose any significant issues or burden on market competition.
Simple Explanation
MIAX PEARL, a stock exchange company, told the SEC about a small change: they updated a rule to change the name "NYSE Chicago" to "NYSE Texas" because the company moved from Delaware to Texas. This change helps keep everything clear and easy to understand for people who follow the rules.