The NYSE Chicago, Inc. has filed a proposed rule change with the Securities and Exchange Commission (SEC) to amend its Rules 7.31E and 7.37E. This change would allow an optional routing strategy for MPL-IOC Orders. The rule was filed under Section 19(b)(3)(A) and Rule 19b-4(f)(6) of the Securities Exchange Act. The SEC published the proposal to gather public comments and has agreed to let the rule become effective immediately, as it doesn't significantly impact competition or investor protection. Public comments about the rule can be submitted to the SEC by April 7, 2025.
Simple Explanation
The NYSE Chicago wants to change some of its rules to let people choose a new way to buy and sell shares very quickly, and the government says it's okay to start using this new way while they listen to what people think about it.