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The New York Stock Exchange (NYSE) submitted a proposed rule change to amend Section 907.00 of the NYSE Manual. This amendment aims to clarify the application of complimentary products and services offered to companies listed on the exchange, depending on their global market value. Companies that listed on or after January 11, 2021, will receive these services for 48 months, while those listed earlier will get them for 24 months. The change is primarily for clarification and transparency and does not impose any significant burden on competition or affect investor protection.

The New York Stock Exchange LLC (NYSE) has proposed a rule change to extend a waiver of fees for certain new member applications and bond trading licenses for 2021. This proposal aims to waive the New Firm Fee, which ranges from $2,500 to $20,000, for bond trading firms applying solely for a bond trading license, and also to waive the annual $1,000 Bond Trading License Fee. The NYSE believes these changes will encourage more firms to join and trade bonds on their platform, ultimately benefiting investors through increased liquidity and trading opportunities. The Securities Exchange Commission is inviting public comments on this proposed rule change.

The New York Stock Exchange (NYSE) has proposed a rule change to eliminate the cap on the fee discount provided to certain investment management entities and their eligible portfolio companies. Previously, there was a maximum limit on the discount, which created unequal fee outcomes for similar companies. By removing this cap, all qualifying companies will uniformly receive a 50% annual fee discount without a maximum limit, promoting fairness and consistency. The change is expected to have minimal impact on overall competition, as only a small percentage of companies qualify for this discount.

The New York Stock Exchange LLC (NYSE) has proposed changes to its rules to reflect a name change of its affiliate, "NYSE Chicago, Inc.," to "NYSE Texas, Inc." This change comes after NYSE Chicago converted from a Delaware-based corporation to a Texas-based one, prompting updates in the Exchange's rules to replace references to 'Chicago' with 'Texas.' The Securities and Exchange Commission is seeking comments on these non-substantive, conforming changes, which aim to improve clarity and reduce confusion for investors and market participants.

The New York Stock Exchange (NYSE) has proposed a rule change to defer the billing of initial listing fees for Acquisition Companies by one year from their listing date. The Exchange believes this change is needed to stay competitive with primary competitor Nasdaq, which already has a similar deferral policy. Acquisition Companies uniquely deposit 100% of IPO proceeds into trust accounts, which makes early-stage fees burdensome. This deferral aims to encourage more of these companies to list on the NYSE without negatively impacting revenue or regulatory funding.

The Securities and Exchange Commission (SEC) is considering whether to approve a proposed rule change submitted by Cboe BZX Exchange, Inc. that would allow it to list and trade Multi-Class Exchange-Traded Fund (ETF) Shares under an amended rule. This change seeks to enable quicker listings of these shares when exemptive relief is granted by the SEC, as several applications for such relief are currently pending. The SEC is reviewing whether this proposal is consistent with legal requirements that protect investors and prevent fraud. Interested parties are encouraged to submit their opinions on whether the rule change should be approved or disapproved by mid-March 2025.

The Cboe Exchange, Inc. has proposed a change to their Rules 8.16 and 9.2, aiming to align their supervisory reporting process for Trading Permit Holders with the standards set by FINRA and NYSE. The Securities and Exchange Commission (SEC) published this notice to gather feedback from the public. The change is effective immediately as the SEC waived the typical 30-day delay, believing it will ease the annual reporting procedures for members who are also involved with NYSE and/or FINRA. Interested parties are invited to submit their comments, with a deadline for submissions set for April 8, 2025.

The Securities and Exchange Commission has approved a proposed rule change by the New York Stock Exchange (NYSE) to amend NYSE Rule 7.31(f)(1). This change will allow Directed Orders, which are specific types of trades, to be routed to broker-dealer algorithms instead of just to alternative trading systems (ATS). This update is intended to give member organizations more flexibility and choice in how they route orders, potentially improving operational efficiency. The NYSE will not control the selection of the algorithm, and will not have visibility into how or where an order is executed by the algorithm.

The New York Stock Exchange (NYSE) submitted a proposed rule change to the Securities and Exchange Commission (SEC) to adjust its fee structure. The proposal introduces a fee of $0.0030 per share for orders using the new Midpoint Ping routing strategy. This strategy helps direct trades to various NYSE-affiliated exchanges to find the best prices, but it is entirely optional for member organizations. The proposed fee change aims to balance competition and improve member organizations' access to liquidity in the stock market.

The New York Stock Exchange LLC (NYSE) filed a proposal with the Securities and Exchange Commission (SEC) to amend rules about reverse stock splits, aiming to prevent companies that fall below certain price criteria from using reverse stock splits to reclaim compliance under specific circumstances. The SEC is taking extra time beyond the usual 45-day review period to evaluate this proposal and any comments received. They have extended the deadline to either approve or disapprove the changes to January 15, 2025. The proposal was initially published for public comment on October 17, 2024.