The Securities and Exchange Commission is reviewing a proposed rule change from Cboe BYX Exchange, Inc. This change would allow users to use match trade prevention when they enter periodic auction orders on the exchange. The Commission has decided to extend the decision deadline to February 16, 2025, to have enough time to consider the proposal, which includes modifications made in Amendment No. 1. This extension ensures the Commission can make a well-informed decision on whether to approve or disapprove the rule change.
Simple Explanation
The big grown-ups at the government are taking more time to decide on a new rule that would help make sure people trading on their special computer system don't accidentally trade with themselves. They're giving themselves extra time until next year so they can think really hard about whether this new rule is a good or bad idea.