NYSE Proposes Market Overhaul in Bargain With Dark Pools

The New York Stock Exchange is working to marshal Wall Street support for a plan that would overhaul features of the U.S. stock market that have drawn criticism from investors in the past year.

A draft proposal circulated by NYSE among investors and brokers seeks a grand bargain across the industry, according to a person who saw it who asked not to be named. The arrangement would include curbs to keep most trades off private venues such as dark pools and agreements by exchanges to cut trading fees and stop an incentive system known as maker-taker.