Cboe BZX Exchange, Inc. has proposed a new rule to adopt fees for its new logical ports, which are linked to a new connectivity option on its equity options platform. These new logical ports, known as Unitized Logical Ports, provide a more consistent experience in trading by reducing the variability in how orders are processed. The proposal also includes new fees for members who exceed certain daily average limits for orders or quotes, aiming to encourage efficient use of the exchange's resources and prevent excessive activity that could disrupt systems. The changes are optional, with the goal of providing members with more trading flexibility.
Simple Explanation
Cboe BZX Exchange wants to add some new types of connections, like special cables, for people who trade on its platform, and they plan to charge extra if someone uses too many. It's like a rule that helps make sure everyone gets a fair chance to play, but it might be a bit tricky for smaller players.