The Securities and Exchange Commission (SEC) has announced that MEMX LLC has filed a proposed rule change to amend its Rule 19.5 concerning options trading. This change aims to align MEMX’s rules with other national securities exchanges regarding the $1 Strike Price Program. The SEC has allowed this rule change to take effect immediately to avoid confusion among traders and because it poses no new regulatory issues. The public is invited to comment on the proposed rule change by April 7, 2025.
Simple Explanation
MEMX LLC wants to change a rule about how options can be priced to match what other exchanges are doing, and the government said it's okay right away. They want to make sure traders don't get confused, and anyone can share their thoughts about this change until April 7, 2025.