MIAX PEARL, LLC has submitted a proposal to the Securities and Exchange Commission to change its fee schedule for trading equities. The proposal suggests increasing the rebate for displayed orders adding liquidity in Tape B securities to $0.0035 per share and decreasing the fee for removing liquidity to $0.0027 per share, effective January 1, 2021. These changes aim to encourage more trading on the platform by offering better incentives compared to competitors. The proposed fee adjustments are intended to attract more order flow, boost liquidity, and enhance the trading opportunities available for market participants.
Simple Explanation
MIAX PEARL, LLC wants to change how much it costs to buy and sell certain stocks on their platform, making it cheaper to trade some stocks to get more people to trade with them. They're targeting a specific group of stocks called "Tape B" and hope that by offering better deals, more buyers and sellers will come to them.