Nasdaq PHLX LLC has proposed a rule change to reorganize its PSX equity and general rules by moving them into a new Rulebook shell. This reorganization is part of an effort to make the Rulebook easier to use and more consistent across Nasdaq's affiliated exchanges. The proposed changes include updating rule references, removing outdated rules, and making minor technical corrections. The Securities and Exchange Commission has allowed this proposal to take effect immediately to facilitate a more streamlined rule management process.
Simple Explanation
Nasdaq PHLX LLC is moving its rules for trading stocks into a new place to keep everything tidy and easy to find, kind of like moving toys to a new shelf so it's easier to play. This change doesn't change the rules but makes them easier to read and follow.