The program will begin in the second half and applies to ETPs traded on the NYSE. The NYSE can continue, discontinue, modify or permanently install the program as it sees fit.
The Nasdaq is also working on a similar program, which is in the comment phase with the SEC. The Nasdaq plan would allow issuers to put up $50,000 to $100,000 per ETP per yer to LMMs who execute trades on their behalf.
For more information on the ETF industry, visit our current affairs category.
Max Chen contributed to this article.