The NYSE Arca, Inc. has proposed a rule change to the Securities and Exchange Commission to amend its Rules 7.31-E and 7.37-E. This change would provide an optional routing strategy for orders on the exchange. The proposal became effective immediately upon filing because it does not significantly affect investor protection, the public interest, or impose any substantial burden on competition. The SEC is inviting public comments on this proposal, which should be submitted by April 7, 2025.
Simple Explanation
NYSE Arca wants to change some of their rules so they can offer a new way to send orders for buying or selling. These changes happened really fast because they don't make things unfair for people buying and selling, and now the people in charge are asking anyone who's interested to say what they think about it by April 7, 2025.