💼Nasdaq PHLX Proposes New FIX Drop Port and Associated Fees
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt a FIX Drop Port and Related Fees
Summary
The Nasdaq PHLX LLC has filed a proposed rule change to adopt a new FIX Drop Port similar to those on other Nasdaq platforms, alongside related fees. The change is designated for immediate effectiveness and invites public comments to assess its consistency with the Securities Exchange Act. Stakeholders are encouraged to review and engage with the proposed changes, which may affect trading strategies.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposal involves adopting a new FIX Drop Port and associated fees which impacts trading operations. Business owners and executives in the securities industry should assess the potential costs and implications of utilizing the new port, as well as any competitive advantages it may offer. The solicitation of comments indicates an opportunity for stakeholder engagement.