The New York Stock Exchange LLC (NYSE) has proposed a rule change to amend its Price List by introducing fees for Directed Orders that the Exchange routes to an algorithm. This rule change, which NYSE filed on February 27, 2025, with the Securities and Exchange Commission (SEC), is designated for immediate effect starting March 3, 2025. The SEC is inviting the public to submit comments on this proposal until April 4, 2025, and comments can be submitted through various online platforms or by mail. The SEC will review all comments and decide whether the proposed rule should be approved or not.
Simple Explanation
The New York Stock Exchange wants to start charging new fees for certain types of orders that are special and get routed through a computer algorithm. They're asking people to share their thoughts about this idea, but they haven't told us exactly how much the fees will be or why the change needs to happen so quickly.