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MIAX Emerald, LLC, a securities exchange, has filed a proposal with the Securities and Exchange Commission (SEC) to change its Fee Schedule. The proposal seeks to adjust the inbound quote limit related to the Excessive Quoting Fee, aiming for immediate effectiveness. The SEC is asking for public comments on this rule change, which is available for review online on both the MIAX Emerald and SEC websites. Comments can be submitted via the SEC's online form, email, or mailed directly to the SEC by April 7, 2025, using file number SR-EMERALD-2025-05.

Cboe EDGX Exchange, Inc. proposed a rule change to modify its fee schedule related to its equities trading platform. The changes focus on updating the Add/Remove Volume Tiers and introducing a new Non-Displayed Step-Up Tier to provide enhanced rebates to members based on certain trading volume criteria. These changes are intended to encourage more order flow to the exchange, improve market liquidity, and provide better pricing options for participants. The proposed amendments aim to foster a more competitive trading environment, benefiting all market participants.

The Cboe EDGX Exchange, Inc. proposed a rule change to update its fee schedule by removing certain routing fee codes (8, K, and MX) due to minimal usage. This change means these orders will now fall under the standard routing fees, making the system more efficient. The exchange operates in a competitive market where participants can choose other venues if they find fee levels too high. The proposed change aims to promote competition without imposing unfair burdens on any members.

The Securities and Exchange Commission (SEC) has announced that NYSE Arca, Inc. has proposed a rule change to modify Rule 6.86-O and eliminate the use of "dark series" in quoting options. This proposal aims to improve transparency and enhance price discovery by ensuring all Market Maker quotes, including those currently deemed inactive, are published and visible to market participants. NYSE Arca believes that the change will not affect OPRA's capacity, as it already requests capacity for all quotes, and it will not impose any undue burden on market competition. The SEC is seeking public comments on this proposal before making a decision.

MIAX PEARL, LLC submitted a proposed rule change to the Securities and Exchange Commission (SEC) on February 6, 2025. This change would allow the listing and trading of options on the Goldman Sachs Physical Gold ETF and update the names of certain trusts. The change was filed under a rule allowing it to become effective immediately, as it doesn't significantly impact investor protection, public interest, or competition. The SEC invites public comments on this proposal, which they can submit through various methods until March 14, 2025.

The Securities and Exchange Commission published a notice regarding a proposed change submitted by the NYSE American LLC. The change aims to update the NYSE American Options Fee Schedule by modifying the Floor Broker Fixed Cost Prepayment Incentive Program. This includes changes like increasing required volumes for certain credits and introducing new rebates. The proposal, filed on January 15, 2025, is intended to take immediate effect, and the Commission is seeking public comments on this proposal by February 13, 2025.

The New York Stock Exchange LLC (NYSE) has proposed a rule change to extend a waiver of fees for certain new member applications and bond trading licenses for 2021. This proposal aims to waive the New Firm Fee, which ranges from $2,500 to $20,000, for bond trading firms applying solely for a bond trading license, and also to waive the annual $1,000 Bond Trading License Fee. The NYSE believes these changes will encourage more firms to join and trade bonds on their platform, ultimately benefiting investors through increased liquidity and trading opportunities. The Securities Exchange Commission is inviting public comments on this proposed rule change.