Nasdaq PHLX LLC proposed changes to its pricing schedule to modify the Qualified Market Maker (QMM) Program. The revisions involve increasing the number of securities a QMM must quote at the national best bid and offer (NBBO) to qualify for certain credits, while decreasing the number needed to earn higher supplemental credits, aiming to enhance market quality. The Exchange believes these adjustments are reasonable, equitable, and non-discriminatory, promoting better market participation and quality. Comments on the proposed changes are invited from the public via the Securities and Exchange Commission (SEC) within a specified timeframe.
Simple Explanation
Nasdaq is changing some rules to make buying and selling stocks smoother and better for everyone. They want certain stock sellers, called Qualified Market Makers, to offer better prices so people get a good deal, and they are asking people to share their thoughts on these changes.