Search Results for keywords:"trading floor"

Found 5 results

Search Results: keywords:"trading floor"

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  • 2020-29131 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Add Commentary .07 to Rule 7.35A To Provide That, for a Temporary Period, the Exchange Will Permit DMMs Limited-Entry to the Trading Floor or Remote Access to Floor-Based System for Certain Auctions
    Type:Notice
    Citation:86 FR 335
    Reading Time:about 15 minutes

    The New York Stock Exchange (NYSE) filed a temporary rule change with the Securities and Exchange Commission (SEC) to accommodate Designated Market Makers (DMMs) due to COVID-19 restrictions. The change allows DMMs limited access to the trading floor or remote access to NYSE systems until either the trading floor fully reopens or April 30, 2021. This adjustment is meant to support efficient trading during significant pricing events like a corporate action or a Direct Listing Auction, ensuring fair and orderly markets despite the temporary closure of the physical trading floor. These measures are intended to maintain transparency and allow issuers to continue listing via Direct Listings while operations are remote.

    Simple Explanation

    The New York Stock Exchange is letting special traders called Designated Market Makers do their work from home or have a little bit of time on the trading floor because of COVID-19. This change is temporary, just to make sure everything runs smoothly until things get back to normal or until the end of April 2021.

  • 2020-29222 — Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Modify the NYSE American Options Fee Schedule
    Type:Notice
    Citation:86 FR 641
    Reading Time:about 12 minutes

    The NYSE American LLC has proposed a change to their options fee schedule, which involves continuing the waiver of some floor-based fixed fees. This extension is intended to assist market participants who have struggled to return to their normal operational levels on the trading floor due to COVID-19 restrictions. The fee waiver will help reduce monthly costs for firms affected by these disruptions until at least March 2021 or until the trading floor fully reopens. Additionally, this change aims to support fair competition and equitable fee allocation among its members.

    Simple Explanation

    The NYSE American is giving some businesses a break by not charging them certain fees while they try to get back to normal after COVID-19. This means these businesses won't have to pay as much money each month to keep going.

  • 2021-00591 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing of Proposed Rule Change To Modify Phlx Options 8, Section 26, “Trading Halts, Business Continuity and Disaster Recovery”
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    Type:Notice
    Citation:86 FR 3217
    Reading Time:about 42 minutes

    The Securities and Exchange Commission has issued a notice about a proposed rule change by Nasdaq PHLX LLC. The change allows for a "Virtual Trading Crowd" to operate when their physical trading floor is unavailable. This proposal, influenced by COVID-19, aims to ensure that trading can continue in a virtual environment similar to in-person open outcry trading. It includes measures for communication and security to maintain the integrity and smooth operation of the trading system.

    Simple Explanation

    Imagine a group of people who love to trade things with each other. They usually meet in a special place to do this, but because of something like a big sneeze that's happening everywhere, they can't meet there anymore. So, they want to meet online to trade, just like a video game chat, and they're making sure it's safe and fair for everyone who joins in.

  • 2025-03587 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Options 8, Section 22
    Type:Notice
    Citation:90 FR 11448
    Reading Time:about 5 minutes

    Nasdaq PHLX LLC proposed a rule change to amend Options 8, Section 22, which deals with options transactions on the trading floor. This change involves relocating certain rule text without changing the requirements, and updating citations in another section to match these amendments. The rule change became effective immediately after filing, as it does not significantly impact investor protection or competition. The Securities and Exchange Commission is inviting public comments on whether this proposed change is appropriate.

    Simple Explanation

    Nasdaq PHLX LLC is changing some rules about how certain options are traded, like moving words around without changing what they mean, so people know where to find them. The SEC, which makes sure trading rules are fair, wants to know what people think about these changes and is asking them to share their thoughts.

  • 2025-06115 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt Exchange Rule 2005, Error Accounts
    Type:Notice
    Citation:90 FR 15376
    Reading Time:about 12 minutes

    MIAX Sapphire, LLC submitted a proposed rule change to the Securities and Exchange Commission to amend and adopt certain rules regarding Floor Broker error accounts. The changes involve clarifying the definition of "Participant" in Exchange Rule 100 and adopting Exchange Rule 2005, which outlines how to handle errors in brokerage operations on the trading floor. The proposal seeks to improve transparency and ensure that any trade errors are corrected efficiently, promoting fair trading and protecting investors. The new rules aim to apply equally to all relevant brokers and align with practices at other exchanges.

    Simple Explanation

    MIAX Sapphire wants to fix trading mistakes by changing some rules so everyone plays by the same rules, making sure mistakes are corrected fairly and quickly, just like other trading places do.