Search Results for keywords:"price improvement"

The Cboe EDGX Exchange, Inc. has proposed a rule change to amend the auction response and execution price cap for AIM and SAM auctions, which are systems designed to improve pricing for securities traders. The change involves modifying Rules 21.19 and 21.21 to allow executions at prices not limited by the initial National Best Bid or Offer (NBBO), potentially providing better price improvements for orders. This proposal aims to take advantage of price movements during auctions while ensuring that orders are executed at beneficial prices, without disadvantage to market participants. The Securities and Exchange Commission is seeking public comments on this proposed rule change.

In a notice published by the Securities and Exchange Commission, NYSE National, Inc. proposed a change to its rules regarding how certain retail stock orders are handled. The Exchange plans to introduce an optional strategy called the Retail Price Improvement Seeking routing strategy for Type 1 Retail Orders, which aims to give such orders a chance for better pricing both within the Exchange and on the New York Stock Exchange. This change is expected to benefit retail investors by offering greater opportunities for price improvement and increased competition among trading venues. The commission is seeking comments from the public on this proposal before deciding whether to approve it.

The NYSE American LLC has proposed a change to its Rule 971.2NY, which involves their Complex Customer Best Execution Auction (CUBE). This rule change introduces an optional all-or-none feature for larger orders in the Complex CUBE Auction, aiming to offer better pricing and competition for larger-sized trades (with at least 500 contracts on the smallest leg). The proposed functionality aligns with similar mechanisms available on other exchanges, enhancing the ability of ATP Holders to secure price improvements for large orders. The Securities and Exchange Commission has determined that this rule change does not significantly impact investor protection or competition and has allowed it to go into effect immediately.

Cboe Exchange, Inc. proposed a rule change to amend the execution price cap for auction mechanisms AIM and SAM, which are designed to improve pricing for customer orders. Currently, Agency Orders must be executed at a price no worse than the Initial NBBO. The new proposal allows these orders to potentially receive better pricing when the market changes during the auction, thus offering price savings to customers. The exchange believes this change will benefit investors by providing more opportunities for price improvement without negatively impacting competition or market integrity.

The Securities and Exchange Commission has received a proposal from Cboe BYX Exchange, Inc. to modify its Rule 11.24. The proposed changes aim to enhance the Retail Price Improvement Program by introducing an "Enhanced RPI Order" that could provide more price improvement opportunities for retail investors. This new order type allows participants to post orders at their limit price and offer better pricing to beat other resting orders, potentially leading to better execution for small investors. The proposal also suggests expanding the program to include securities priced below $1.00, intending to attract more retail orders to the exchange.