Search Results for keywords:"dark series"

The Securities and Exchange Commission (SEC) has announced that NYSE Arca, Inc. has proposed a rule change to modify Rule 6.86-O and eliminate the use of "dark series" in quoting options. This proposal aims to improve transparency and enhance price discovery by ensuring all Market Maker quotes, including those currently deemed inactive, are published and visible to market participants. NYSE Arca believes that the change will not affect OPRA's capacity, as it already requests capacity for all quotes, and it will not impose any undue burden on market competition. The SEC is seeking public comments on this proposal before making a decision.

The NYSE American LLC has proposed a rule change to amend Rules 970NY and 970.1NY, aiming to eliminate the use of "dark series" on the Exchange. A "dark series" refers to inactive options series that are not actively traded and therefore not reported to the Options Price Reporting Authority (OPRA). This change is expected to increase transparency and improve price discovery by ensuring all trading activity is visible to market participants. The Exchange believes this will not overburden its systems or those of OPRA because capacity planning already includes the potential for all series to become active.