The New York Stock Exchange LLC (NYSE) has proposed changes to its rules to reflect a name change of its affiliate, "NYSE Chicago, Inc.," to "NYSE Texas, Inc." This change comes after NYSE Chicago converted from a Delaware-based corporation to a Texas-based one, prompting updates in the Exchange's rules to replace references to 'Chicago' with 'Texas.' The Securities and Exchange Commission is seeking comments on these non-substantive, conforming changes, which aim to improve clarity and reduce confusion for investors and market participants.
Simple Explanation
The New York Stock Exchange is changing the name of one of its parts from "NYSE Chicago" to "NYSE Texas" because it moved to Texas, and they want to make sure their rules match the new name so everything stays clear and not confusing.