NYSE National Boosts Retail Trades with Smarter Routing
Published Date: 4/28/2025
Notice
Summary
NYSE National just got cooler by updating its rules to offer a new way for retail investors’ orders to get better prices when buying or selling stocks. This change affects retail traders and brokers using the Exchange’s Retail Liquidity Program, letting them try a new routing strategy that could save money and speed up trades. The update kicks in soon with no extra fees, making trading smarter and smoother for everyday investors.
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Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Retail Price Improvement Routing Added
You may get an extra chance at a better price when you submit certain retail stock orders. On April 22, 2025 the SEC approved an amendment to NYSE National Rules 7.37 and 7.44 that lets Type 1 Retail Orders first try to trade on the NYSE National book and then route any remaining shares to the New York Stock Exchange to seek additional price improvement; any shares left unexecuted after routing to NYSE will be cancelled.
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