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2024-28426 — Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend IEX Rule 2.160(a) To Better Reflect the Process for a Broker-Dealer To Become a Member (or Continue as a Member) of the Exchange Notwithstanding the Member (or a Person Associated With the Member) Being Subject to a Statutory Disqualification
December 05, 2024
Type:Notice
Citation:89 FR 96698
Reading Time:about 17 minutes
The Investors Exchange LLC (IEX) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to amend its rules regarding broker-dealers who are subject to a statutory disqualification but wish to become or remain members of the Exchange. This amendment aims to clarify the process and align IEX's rules with those of other exchanges, such as Cboe and BOX, and with SEC regulations. The proposed rule would allow IEX to approve membership applications for the brokers while proceedings with other self-regulatory organizations are ongoing. This change seeks to avoid confusion among members and ensure the process is consistent and fair, protecting investors and the public interest.
Simple Explanation
The Investors Exchange wants to change a rule so that if a broker has a problem with the rules (like being in timeout), they can still join the team while they work things out, just like on other teams. This way, everyone knows what to expect, and it keeps things fair and safe for people using the exchange.
2024-28106 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 9, Section 13, Position Limits, and Options 9, Section 15, Exercise Limits, Regarding Options on the Fidelity Wise Origin Bitcoin Fund, the ARK21Shares Bitcoin ETF, the Grayscale Bitcoin Trust (BTC), the Grayscale Bitcoin Mini Trust BTC, and the Bitwise Bitcoin ETF
December 02, 2024
Type:Notice
Citation:89 FR 95308
Reading Time:about 10 minutes
The Nasdaq Stock Market LLC has proposed a change to its rules regarding the trading of options on specific Bitcoin-related funds, such as the Fidelity Wise Origin Bitcoin Fund and the Grayscale Bitcoin Trust. The proposal introduces a limit of 25,000 contracts for both position and exercise limits, aligning with similar limits set by other exchanges like Cboe and NYSE American. This rule change is designed to ensure consistent trading rules across different exchanges, promoting fair trading and investor protection. The Securities and Exchange Commission (SEC) is soliciting public comments on this proposed rule change.
Simple Explanation
The Nasdaq Stock Market is making new rules for trading options on certain Bitcoin funds, allowing up to 25,000 contracts to make trading the same and fair on different exchanges. The SEC wants to know what people think about this idea.
2021-01420 — Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 1308, Supervision of Accounts, To Adopt Temporary Rules To Extend the Time by Which Members Must Complete Their Branch Office Inspections for the Calendar Year 2020 and To Provide Temporary Remote Inspection Relief for Their Office Inspections for Calendar Years 2020 and 2021
January 25, 2021
Type:Notice
Citation:86 FR 6944
Reading Time:about 25 minutes
The Miami International Securities Exchange, LLC proposed a rule change to the Securities and Exchange Commission to amend their Exchange Rule 1308, concerning the supervision of accounts. The changes involve removing outdated rule text and allowing members more time to complete their 2020 branch office inspections due to COVID-19 challenges, with extensions up to March 31, 2021, and allowing remote inspections for both 2020 and 2021. These temporary rules aim to address operational challenges faced by members during the pandemic while still maintaining regulatory compliance and protecting investors. The Exchange aligns these proposals with similar temporary rules from FINRA and Cboe to assist members in navigating the unique circumstances of the pandemic.
Simple Explanation
The Miami International Securities Exchange is making a temporary change to their rules because of the COVID-19 pandemic. They're giving business members more time to check their offices safely and even letting them do these checks from home during 2020 and 2021 to keep everyone safe while still following the rules.

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