Nasdaq BX, Inc. proposed a rule change to amend Rule 4759, altering its data feeds for handling and executing orders. This adjustment involves using a direct feed from the Long-Term Stock Exchange as the primary source, with CQS/UQDF as a backup. The Securities and Exchange Commission (SEC) allowed this change to become effective immediately, aiming to improve transparency without significantly affecting competition or the public’s interest. The SEC invites public comments on this rule change, seeking input through its website or email by January 2, 2025.
Simple Explanation
Nasdaq BX, Inc. wants to change how it uses data to buy and sell stocks by switching to a new main data source, just like how you might pick a new favorite cartoon to watch, and they want to make sure it’s better for everyone. The people in charge are okay with this change now, and they’d like anyone with something to say about it to share their thoughts before the new year.