Search Results for keywords:"Ouch to Trade Options"

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Search Results: keywords:"Ouch to Trade Options"

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  • 2025-02387 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt a New OTTO Protocol
    Type:Notice
    Citation:90 FR 9267
    Reading Time:about 3 minutes

    Nasdaq PHLX LLC has filed a proposed rule change with the Securities and Exchange Commission, which took effect immediately. This change involves introducing a new protocol called “Ouch to Trade Options” or “OTTO” and updating pricing and several related rules, like order types and communication protocols. The proposal and its details can be viewed on Nasdaq's and the Commission's websites. The SEC is seeking comments from the public on whether this change aligns with the Securities Exchange Act.

    Simple Explanation

    Nasdaq wants to use a new system called "OTTO" to help with trading options, which are special kinds of financial deals. The people who make the rules about how these deals happen want to hear what everyone thinks about this change.

  • 2024-28113 — Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Adopt an OTTO Protocol
    đź’°
    Type:Notice
    Citation:89 FR 95321
    Reading Time:about 29 minutes

    Nasdaq BX, Inc. filed a proposed rule change with the Securities and Exchange Commission to implement a new order entry protocol called Ouch to Trade Options (OTTO). This protocol is designed to give users an alternative to existing protocols, offering features like quicker communication for order management and risk protection. It aims to enhance trading efficiency and competitive standing in the options market. The proposal also includes amendments to related rules and introduces a pricing model for using OTTO, set to be implemented by December 2025.

    Simple Explanation

    Nasdaq is adding a new tool called OTTO to help people buy and sell options more easily and safely, like having a quicker and safer way to send messages about their trades.