NYSE American LLC has proposed a change to their options fee schedule, specifically increasing the fee for manual transactions by market makers from $0.35 to $0.50 per contract. This change aims to align NYSE American's fees with those of at least one other competing exchange. The Securities and Exchange Commission invites public comments on this proposal, which takes effect immediately but could be temporarily suspended within 60 days if deemed necessary for investor protection or public interest. The change is intended to foster competition and maintain market quality on the exchange.
Simple Explanation
NYSE American wants to charge its market makers more money for some trades to match what another exchange is doing, and the people who make the rules about fair trading are asking everyone what they think about this change.