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The Securities and Exchange Commission (SEC) has published a notice regarding a proposed rule change filed by Nasdaq ISE, LLC. The proposed rule change seeks to increase the position and exercise limits for options on the iShares Bitcoin Trust ETF (IBIT) from 25,000 to 250,000 contracts. The reason behind this proposal is to align the limits with the current market capitalization and average daily volume, which demonstrate sufficient liquidity to handle increased limits. The proposed rule change aims to enhance liquidity and market competition while ensuring that adequate surveillance measures are in place to prevent manipulation and protect investors.

The Investors Exchange LLC (IEX) has proposed a new rule to allow odd lot orders (orders for less than 100 shares) to be displayed and to aggregate them to form a protected quotation. This change aims to make odd lot orders visible, giving them higher execution priority and aligning IEX's rules with other securities exchanges. The proposal is considered non-controversial and does not foresee any significant impact on competition or investor protections. The rule intends to increase liquidity and enhance price discovery on the exchange, benefiting all market participants.