NYSE Arca Requests Longer Period for Review of Permanent Penny Pilot Program Rule Change

Summary

NYSE Arca, Inc. has submitted a notice to the SEC requesting an extension of time for the Commission to review a proposed rule change that would make the Penny Pilot Program for options permanent. The program, which allows for the trading of options with a minimum price of $0.01, has been a successful pilot program and the proposed rule change aims to make it a permanent fixture on the NYSE Arca exchange.