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Search Results: keywords:"Floor Brokers"

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2021-02866 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend BOX Rule 7620 (Accommodation Transactions)
February 12, 2021
Type:Notice
Citation:86 FR 9403
Reading Time:about a minute or two
The Securities and Exchange Commission (SEC) is considering a proposed rule change filed by BOX Exchange LLC. This change involves amendments to BOX Rule 7620, which would allow Floor Brokers to enter opening cabinet orders on behalf of customers and floor market makers, and clarify that these orders will execute in open outcry. Although the proposed rule was published for comment, the SEC received no responses. To ensure a thorough evaluation, the SEC is extending the decision period until March 30, 2021, to determine whether to approve or disapprove the proposal.
Simple Explanation
The SEC is taking more time to decide on a new rule for the BOX Exchange, which will let special brokers, called Floor Brokers, make certain trades for customers and other traders in a more open and public way. They want to think carefully about this change, so they're waiting until March 30, 2021, to make their decision.
2025-02819 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Section V. Manual Transaction Fees of the Fee Schedule To Increase the QOO and FOO Order Rebate to Floor Brokers for All Broker Dealer and Market Maker QOO and FOO Orders Presented on the Trading Floor on the BOX Options Market LLC Facility
February 20, 2025
Type:Notice
Citation:90 FR 9984
Reading Time:about 2 minutes
The Securities and Exchange Commission (SEC) has received a proposed rule change from BOX Exchange LLC, which seeks to amend its fee schedule. Specifically, the amendment aims to increase the rebate offered to Floor Brokers for various orders on the BOX Options Market facility. The proposal was filed for immediate effectiveness and is open for public comment until March 13, 2025. Comments can be submitted via the SEC's website or by mail.
Simple Explanation
The document is about a decision to give more money back to some people who help others buy and sell things on a special marketplace. People can share their thoughts about this plan until March 2025.
2025-01625 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the NYSE Arca Options Fee Schedule
January 23, 2025
Type:Notice
Citation:90 FR 8059
Reading Time:about 3 minutes
The Securities and Exchange Commission (SEC) has announced that NYSE Arca, Inc. filed a proposed rule change to modify its Options Fee Schedule. The modifications include increasing the required QCC volume for Floor Brokers to earn credits, introducing a new rebate based on combined QCC and manual billable volume, and adjusting the maximum combined credits and rebates for QCC and manual billable programs. Additionally, the proposed change allows Floor Brokers in the Fixed Cost Prepayment Incentive Program to maintain their status if they restructure. These changes became effective on January 14, 2025, and the SEC is inviting public comments on the proposal until February 13, 2025.
Simple Explanation
The SEC says that some rules about paying for trades on the NYSE Arca have changed, like how brokers can get discounts and what happens if they change their setup. People can tell the SEC what they think about these changes until February 13, 2025.
2021-01129 — Self-Regulatory Organizations; Nasdaq Phlx LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify Phlx Options 8, Section 28, “Responsibilities of Floor Brokers” and Section 30, “Crossing, Facilitation and Solicited Orders”
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January 21, 2021
Type:Notice
Citation:86 FR 6389
Reading Time:about 24 minutes
Nasdaq Phlx LLC has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to allow Floor Brokers to use a system called FBMS remotely. This change would permit them to handle certain types of orders without being physically on the Trading Floor, which is especially helpful when open outcry (public bid sharing) is not available. The proposal aims to give greater flexibility in staffing and operations, so business can continue smoothly, even during situations like Trading Floor closures. The SEC invites public comments on this proposal to ensure it aligns with investor protection and market fairness.
Simple Explanation
Nasdaq wants to let some brokers work from home using a special computer system, so they can still do their jobs even if the place they usually work is closed. The SEC is asking people if they like this idea or have any concerns.

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