The Securities and Exchange Commission has issued a notice about a proposed rule change by NYSE Arca, Inc. This rule aims to replace the Discretionary Pegged Order with a new order type called the Selective Midpoint Order (SeMi Order). The SeMi Order will use a machine-learning model to improve price protection during volatile market conditions. This proposed change seeks to enhance the flexibility and functionality of trading strategies for market participants while maintaining fair and open market practices.
Simple Explanation
The Securities and Exchange Commission has announced a new plan to change how some stock orders work using a smart robot helper to make it easier to buy and sell stocks when the market gets bumpy. This new plan is meant to make trading fairer and more flexible for everyone.