Federal Register #SRMEMX202618

SEC Notice: MEMX LLC and FINRA Proposed Regulatory Amendments

This notice from the Securities and Exchange Commission (SEC) covers proposed regulatory changes by MEMX LLC and FINRA: - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors Mentioned: - MEMX LLC (registered equities exchange) - FINRA (Financial Industry Regulatory Authority) - Products/Services Requested: - No procurement of goods or commercial services; the notice details regulatory amendments - MEMX LLC proposes: - Removal of expired criteria under Liquidity Provision Tier 2 - Increase in fees for retail orders under $1.00 that remove liquidity (Retail Sub-Dollar Liquidity Removal Tier 1) - Elimination of the Tape A Liquidity Removal Tier - FINRA proposes: - Exemption of specified collective trust funds from certain rules restricting IPO purchases, to expand investment options for retirement plans - Unique or Notable Requirements: - Focus is on regulatory and fee structure changes, not procurement - No part numbers, quantities, or product purchases involved - Emphasis on competitive market conditions and equitable treatment of exchange members

Description

The Securities and Exchange Commission has issued a notice regarding a proposed rule change by MEMX LLC to amend its fee schedule. The proposed changes include removing an expired criteria under Liquidity Provision Tier 2, increasing the fee charged for executions of Retail Orders in securities priced below $1.00 per share that remove liquidity from the Exchange under the Retail Sub-Dollar Liquidity Removal Tier 1, and eliminating the Tape A Liquidity Removal Tier. The rule change is effective immediately upon filing and aims to promote competition and enhance liquidity on the Exchange.

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