Cboe EDGA Exchange, Inc. has proposed a new rule to update its fee schedule by introducing fee waivers for new Uncontrolled External Distributors of specific market data feeds. The Exchange aims to encourage the adoption of these data feeds by waiving certain distribution and data consolidation fees until these distributors find users for their services. This initiative is designed to help these distributors manage initial development costs and broaden the distribution of Cboe's market data products, promoting fair competition and enhancing access to real-time trading information. The Securities and Exchange Commission is seeking public comments on this proposal.
Simple Explanation
Cboe EDGA Exchange wants to let new helpers who share special market information for trading use it for free at first, so it's easier for them to start and find people who want this information. This is like giving these helpers a head start by not charging them money right away, which helps them share more and makes trading information easier to get.