The Securities and Exchange Commission (SEC) is considering a rule change proposed by NYSE Arca, Inc. to amend Rule 7.31-E and introduce something called the Selective Midpoint Order. The proposed change was announced on December 30, 2024, and the SEC received comments from the public. Normally, the SEC is supposed to decide within 45 days—by February 13, 2025—but they extended the deadline to March 30, 2025, to have more time to review everything. This extension means the SEC can choose to approve, disapprove, or continue investigating the proposal.
Simple Explanation
The Securities and Exchange Commission (SEC) is thinking about letting NYSE Arca, Inc. make a new kind of trade option, like adding a new way to share your toys at school. They need more time to decide because they want to carefully check everything and hear what others think before giving their answer.