NYSE Arca, Inc. has proposed a change to Rule 7.37-E to specify how it obtains data feeds from Investors' Exchange, LLC (IEX) for handling orders and compliance purposes. The proposal aims to enhance transparency and improve the performance of its systems by using IEX direct feeds as primary data sources and the Securities Information Processor (SIP) as secondary. The Securities and Exchange Commission (SEC) has waived a typical 30-day delay, allowing the changes to take effect immediately to coincide with scheduled technology updates on December 7, 2024. The SEC is inviting public comments on this change until December 31, 2024.
Simple Explanation
NYSE Arca wants to change how it gets information to help handle orders faster by using quick data from another company called IEX. The group in charge quickly said yes so the change could happen alongside some updates, and now they are waiting to hear what people think about it.