The New York Stock Exchange (NYSE) has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend its rules regarding the trading of unlisted debt securities on the NYSE Bonds platform. The change will allow more securities to be traded and aligns with previous exemptions while also expanding the eligible issuers from only those listed on the NYSE to any national securities exchange. This proposal is in response to a recent SEC Order and is intended to increase investor options and enhance competition among trading platforms. The SEC is inviting public comments on this proposed rule change.
Simple Explanation
The New York Stock Exchange wants to let people trade more types of bonds, not just those connected to its own stocks, making it easier for more companies to participate and giving people more choices. This change is like allowing different teams to join the same game, so everyone can play together and have more fun.