The Securities and Exchange Commission (SEC) announced that The Nasdaq Stock Market LLC has filed a proposed rule change to increase the fees for their Specialized Quote Feed (SQF) Ports and SQF Purge Ports by 10%. These ports are used by Market Makers to send quotes to the exchange, and the increase aims to adjust for inflation and maintain the quality and security of the exchange's technology. Nasdaq cites investments in technology upgrades as a reason for the fee increase, which intends to better align pricing with improvements in service quality. The new fees will be effective from January 1, 2025, and the SEC is seeking public comments on this proposed rule change.
Simple Explanation
The Nasdaq Stock Market wants to make it a bit more expensive for special tools that help people who trade lots of things at once because they need more money to keep their machines running better and safer. They say this extra money will help make these tools better, but it's not very clear how, and some people are wondering if this is the best way to solve the problem.