Nasdaq GEMX, LLC has submitted a proposed rule change to the Securities and Exchange Commission (SEC) concerning options trading, aiming for it to be effective immediately. The proposal includes amendments to define certain order types like Stop Order and Stop Limit Order, modify rules related to the treatment of responses in various trading mechanisms, and update risk protection parameters. The public is invited to comment on this proposal through the SEC's official online or mail channels by March 13, 2025.
Simple Explanation
Nasdaq GEMX wants to change some rules about how people can buy and sell options, which are like special tickets that let you buy or sell stock later. They're asking people to tell them what they think about these changes by March 13, 2025.