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.
Simple Explanation
The NYSE Arca wants to make some changes so that all the prices of things they're selling are easily seen by everyone, like making sure there are no hidden prices. This should help everyone know exactly how much things cost and make buying and selling fairer for everyone.