The NYSE American Exchange is proposing a temporary rule change to its fee schedule. For April 2025, they aim to waive a limit on Floor Broker credits and rebates associated with QCC (Qualified Contingent Cross) trades and the Manual Billable Rebate Program. This waiver is intended to prevent Floor Broker firms from potentially redirecting their trades to other markets due to recent market volatility, which could lead them to exceed the existing monthly cap on credits and rebates. The Securities and Exchange Commission is accepting public comments on this proposed change until May 15, 2025.
Simple Explanation
The NYSE American Exchange wants to drop a limit on some money perks for their brokers in April 2025 to keep these brokers from choosing to trade elsewhere during crazy, busy times in the market. They think this change will help, but some people are worried it might not be a good idea because it doesn't explain enough about why it's needed or what could go wrong.