The Securities and Exchange Commission has approved a new rule proposed by the New York Stock Exchange (NYSE). This rule, NYSE Rule 5.2(j)(8), sets standards for listing and trading Exchange-Traded Fund (ETF) shares on the NYSE. The rule aligns with existing regulations to streamline the process, reduce costs, and enhance competition among ETF issuers, benefiting investors through lower prices. Additionally, NYSE Rule 7.18(d)(2) has been approved to handle trading halts for exchange-traded products, ensuring fair and orderly markets.
Simple Explanation
The New York Stock Exchange (NYSE) got approval for a new rule that helps make it easier and cheaper for certain funds, called Exchange-Traded Funds (ETFs), to trade on their platform, which means people might get better prices when buying or selling these funds. It also includes a rule to pause trading if something weird happens, so everything stays fair.