Search Results for keywords:"exchange-traded products"

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Search Results: keywords:"exchange-traded products"

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  • 2025-06413 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing of a Proposed Rule Change To List and Trade Shares of Grayscale Avalanche Trust (AVAX) Under Nasdaq Rule 5711(d) (Commodity-Based Trust Shares)
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    Type:Notice
    Citation:90 FR 16022
    Reading Time:about 73 minutes

    The Securities and Exchange Commission has announced a proposed rule change to allow Nasdaq to list and trade shares from the Grayscale Avalanche Trust (AVAX) under its rules for Commodity-Based Trust Shares. These shares will let investors indirectly invest in AVAX, a cryptocurrency from the Avalanche Network, similar to how they might invest in other commodities like gold. The Trust will not be actively managed, and the value of its shares will reflect the value of the AVAX it holds, minus associated expenses. The proposal also includes measures to prevent fraud and manipulation, despite AVAX's market not being primarily regulated.

    Simple Explanation

    Imagine a new way for people to put their money into a special kind of pretend money called AVAX, which is like a game token used online. The plan is for these tokens to be turned into little pieces that people can buy and sell on a big trading floor called Nasdaq, just like trading collectible cards but with grown-up money. This idea is still being checked to make sure it's fair and safe for everyone.

  • 2021-00349 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Fee Schedule Relating to LMM Financial Incentives
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    Type:Notice
    Citation:86 FR 2473
    Reading Time:about 14 minutes

    The Cboe BZX Exchange, Inc. has proposed a rule change to adjust its fee structure for Lead Market Makers (LMMs) on its equities trading platform. The new fee schedule aims to provide better incentives for LMMs who meet specific performance standards, particularly those handling lower daily auction volumes of securities. The proposed changes include reducing payments for high-volume securities while increasing incentives for securities with lower trading volumes. The Exchange believes these adjustments will help remain competitive in the market and enhance the quality of the trading environment for exchange-traded products (ETPs) listed on Cboe BZX.

    Simple Explanation

    The Cboe BZX Exchange is changing how much they pay their special helpers (called LMMs) who make trading run smoothly; they’re giving more money to those who work with the less popular items and a bit less to those working with the ones everyone likes.

  • 2020-29139 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Disapproving a Proposed Rule Change Relating to Rule 14.11, Other Securities, To Modify a Continued Listing Criterion for Certain Exchange-Traded Products
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    Type:Notice
    Citation:86 FR 332
    Reading Time:about 20 minutes

    The Securities and Exchange Commission (SEC) has disapproved a proposed rule change submitted by the Cboe BZX Exchange, Inc., which aimed to extend the time allowed for certain exchange-traded products (ETPs) to meet minimum listing requirements. The Exchange wanted to increase the compliance period from 12 to 36 months for ETPs to have a minimum of 50 beneficial holders, arguing it aligns better with the ETP lifecycle and current market conditions. However, the SEC found that the Exchange did not provide enough evidence to ensure this change would protect against market manipulation and protect investors. Despite receiving some support from commenters, the proposal was deemed inconsistent with the necessary regulatory requirements.

    Simple Explanation

    The SEC said no to a plan that wanted to give certain types of stocks more time to meet certain rules because they didn't think it was safe enough for investors. They didn't believe that letting these stocks take three years instead of one to gather enough owners would be a good idea, even though some people thought it might help.