MIAX Sapphire, LLC has proposed a rule change to the Securities and Exchange Commission (SEC) that would allow the exchange to list and trade options on the Goldman Sachs Physical Gold ETF. The SEC is reviewing this proposal and has made it effective immediately, believing it does not raise any new regulatory issues. Public comments on the proposal are encouraged and can be submitted via the SEC's website or by email until March 14, 2025. The SEC reserves the right to suspend the rule within 60 days if necessary to protect investors or the public interest.
Simple Explanation
MIAX Sapphire wants to let people buy and sell special contracts, called "options," on a gold fund by Goldman Sachs. The people who make the rules say it's okay to start doing this right away, but if anyone has a problem with it, they can tell the rule-makers until March 14, 2025.