The NYSE National, Inc. has proposed a rule change to update its Schedule of Fees and Rebates to encourage more liquidity-providing and liquidity-removing orders to its exchange. The proposal introduces alternative qualification criteria for adding and removing tiers, aiming to incentivize ETP Holders with better execution opportunities. The changes reflect the competitive nature of the equity trading market where participants can select from multiple exchanges. No significant issues are expected for ETP Holders complying with the proposed adjustments, which are intended for implementation from February 1, 2021.
Simple Explanation
The NYSE National, Inc. wants to change some rules about how they charge and give discounts when people trade stocks, hoping it will make more people want to use their exchange. They think these changes will help people get better deals when they buy or sell, like making trading easier and faster.