Nasdaq PHLX LLC proposed a rule change to the Securities and Exchange Commission (SEC), aiming to clarify and modify several aspects of its FLEX Options trading. These changes include clarifying certain trading functionalities, listing specific FLEX Index Options, and setting criteria for cash settlement of FLEX Options on certain Exchange-Traded Funds. The SEC, needing more time to review the proposal, extended the deadline for their decision until January 27, 2025. The proposed rule change had been available for public comment, but no comments were received.
Simple Explanation
Nasdaq PHLX LLC wants to change some rules about how people can trade special options called FLEX Options, but the SEC needs more time to think about these changes, so they’ve decided to make their decision next month.