The New York Stock Exchange (NYSE) is proposing an extension of the waiver on certain fees for member organizations operating on the Trading Floor. Since the Trading Floor continues to operate with reduced capacity due to COVID-19, the NYSE wants to keep offering these waivers to help reduce financial burdens for these organizations. The extended waiver covers 50% of charges related to telephone systems and service fees, as well as trading license fees for eligible firms. The rule change was filed for immediate effectiveness to ease costs for firms affected by the pandemic-related partial closure of the Trading Floor.
Simple Explanation
The New York Stock Exchange (NYSE) is letting some people who trade there keep more money by not charging them certain fees, because COVID-19 has made it hard for them to work normally. They want to help those people save money because the place where they usually work is not as busy as it used to be.