Nasdaq PHLX LLC, an exchange, submitted a rule change to the Securities and Exchange Commission (SEC) to amend its pricing schedule for certain options. The changes involve updating the criteria for Qualified Contingent Cross (QCC) rebates and enhancing the Floor Broker Incentive Program by expanding volume criteria and rebate tiers. The rule is designed to take effect immediately, and the SEC is seeking public comments on whether these changes comply with the Securities Exchange Act of 1934. The public can submit feedback through the SEC's website or via email until April 7, 2025.
Simple Explanation
Nasdaq PHLX wants to change some money-related rules about how people trade certain options. They asked a big organization in charge of trading rules, called the SEC, if they can start using these changes right away, and people can give their thoughts on it by a certain date.