Search Results for keywords:"MIAX Sapphire LLC"

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Search Results: keywords:"MIAX Sapphire LLC"

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  • 2024-29472 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Order Declaring Effective a Minor Rule Violation Plan
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    Type:Notice
    Citation:89 FR 101678
    Reading Time:about 6 minutes

    MIAX Sapphire, LLC, an exchange, filed a Minor Rule Violation Plan (MRVP) with the Securities and Exchange Commission. This plan allows the exchange to handle minor rule violations internally, imposing fines up to $2,500 without needing formal disciplinary proceedings, provided they report these violations to the Commission quarterly. The Commission approved this plan, stating it supports efficient enforcement while maintaining compliance with important regulations. The MRVP includes certain rule violations that don't warrant formal proceedings, giving MIAX Sapphire flexibility in its enforcement actions.

    Simple Explanation

    Imagine a club where, if someone does something small and wrong, they don't get into huge trouble. Instead, the club can give them a small timeout or fine so everyone can play fair. MIAX, a group that helps people trade stocks, has a rule like this. The people in charge said, "Yep, that's okay," because it helps keep things running smoothly and fair.

  • 2025-02887 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 402, Criteria for Underlying Securities, To List and Trade Options on the Goldman Sachs Physical Gold ETF and Amend the Names of Certain Trusts To Reflect Their Current Names
    Type:Notice
    Citation:90 FR 10105
    Reading Time:about 4 minutes

    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.

  • 2024-30350 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change by MIAX Sapphire, LLC to Adopt Connectivity and Certain Port Fees for Members and Non-Members
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    Type:Notice
    Citation:89 FR 104254
    Reading Time:about 115 minutes

    The Securities and Exchange Commission (SEC) has announced a new rule proposal from MIAX Sapphire, LLC regarding fees for connectivity and port services. MIAX Sapphire plans to implement fees for network connections and ports, including a waiver period to incentivize participation, after which full fees will apply. The proposed fees aim to cover the costs of providing these services, with some services offered at a loss to attract market participants. The SEC is inviting public comments on these proposed changes.

    Simple Explanation

    MIAX Sapphire wants to start charging fees for using their computer networks, like the way roads have tolls, but they will let people try them for free for a little while to see if they like them. The SEC is asking everyone what they think about these new plans.