NYSE Arca, Inc. submitted a proposal to the Securities and Exchange Commission (SEC) to change its rules and allow the exchange to list and trade options on Commodity-Based Trust Shares. This proposal was initially published for public comment on March 17, 2025. According to the law, the SEC has 45 days to make a decision, but it can extend this period up to 90 days if necessary. The SEC is using this rule to extend the deadline to June 15, 2025, so they have more time to review the proposal before approving or disapproving it.
Simple Explanation
The people who help manage a big trading place called NYSE Arca want permission to sell special items called options, which are a bit like pieces of paper that say how much pretend metal you own. The big boss group, the SEC, has decided to take more time until June 15, 2025, to think extra carefully before deciding if this is a good idea.