The Nasdaq Stock Market LLC submitted a proposed rule change to the Securities and Exchange Commission (SEC) to introduce a new Order Entry Protocol named "CORE FIX" or "CF." This protocol aims to simplify order handling and improve speed by using the same standard as the existing FIX protocol, but without its routing capabilities. The SEC is seeking comments from the public on this proposal, and individuals are encouraged to submit their views electronically or via mail by April 9, 2025. The complete details of this proposed rule change are available on both the Nasdaq and the SEC websites.
Simple Explanation
Nasdaq wants to use a faster way to organize how people buy and sell stocks, kind of like making a new shortcut, and they are asking people to share what they think about their idea by April 9, 2025.