Search Results for keywords:"Securities and Exchange Commission"

The Securities and Exchange Commission approved a proposal by the Miami International Securities Exchange to list and trade options on the Bloomberg US Large Cap Price Return Index, also known as the B500 Index. These options will have both standard and nonstandard expiration dates and can settle in the morning or in the evening. The Exchange believes these options will offer investors more choices for hedging and investment strategies. Additionally, the Exchange has put in place surveillance measures to ensure fair trading and will provide annual reports to study any market impacts.

The Miami International Securities Exchange, LLC has submitted a proposal to the Securities and Exchange Commission to increase the number of Limited Service MIAX Express Interface Ports available to market makers without changing existing fees. This expansion is needed due to higher customer demand and market volatility, which have increased network traffic. Even though this expansion will come at a cost, the Exchange aims to offer more ports to ensure sufficient and equal access to its systems for all market participants, while maintaining fair competition and efficient port usage. They emphasize that the decision to purchase additional ports is voluntary for market makers.

Nasdaq BX, Inc. filed a proposed rule change with the Securities and Exchange Commission to implement a new order entry protocol called Ouch to Trade Options (OTTO). This protocol is designed to give users an alternative to existing protocols, offering features like quicker communication for order management and risk protection. It aims to enhance trading efficiency and competitive standing in the options market. The proposal also includes amendments to related rules and introduces a pricing model for using OTTO, set to be implemented by December 2025.

Cboe BZX Exchange, Inc. has proposed a rule change to modify the fees for their BZX Top Feed, which provides up-to-date quotations and trading information. They plan to increase the monthly cost of distributing this data internally within a company to $750, and introduce a fee of $4 per month for each professional user accessing this data internally. External distribution fees remain unchanged. This change aims to ensure fair compensation for the data provided while keeping it accessible to various market participants at competitive prices compared to similar offerings from other exchanges.

The Securities and Exchange Commission (SEC) has temporarily suspended a proposed rule change by NYSE Arca, Inc., which aimed to waive the Options Regulatory Fee (ORF) for December 2024 and resume it at the same rate in January 2025. The SEC will determine whether to approve or disapprove this proposal, asking for public comments to ensure that the changes meet legal requirements and are fair to all involved parties. The proposal is under scrutiny as it could potentially lead to unfair fee structures or competition discrepancies. The SEC invites comments and insights on this matter to aid in their decision-making process.

Cboe Exchange, Inc. has proposed a rule change to update the fees associated with its Silexx trading platform. The changes include new fees for "drop copy" services and order routing through Financial Information eXchange (FIX). These updates are in line with the transition to the newer Cboe Silexx platform from the older PULSe platform. The Securities and Exchange Commission is seeking comments on this proposed rule change, which aims to streamline trading operations and fee structures for users.

NYSE Arca filed a proposed rule change with the Securities and Exchange Commission (SEC) to list and trade shares of the Bitwise Bitcoin and Ethereum ETF. This ETF, managed by Bitwise Investment Advisers, aims to provide exposure to bitcoin and ether based on their market capitalizations. The SEC will review this proposal within either 45 or 90 days to ensure compliance and fraud prevention. If the ETF is approved, it will trade under specific rules for monitoring, valuation, and trading halts on the NYSE Arca Exchange.

The Securities and Exchange Commission (SEC) is seeking public comments as part of its Paperwork Reduction Act procedures on the reinstatement of a previously approved information collection, which is gathered under rules regarding professional conduct for attorneys. These rules require attorneys practicing before the SEC to report evidence of material violations by an issuer. An alternative procedure allows issuers to create a Qualified Legal Compliance Committee (QLCC) to handle such reports. The SEC estimates that 3% of issuers have or will establish a QLCC, which will result in an annual burden of 692 hours and a cost of $242,200, mainly due to involvement of outside counsel. Public comments on this collection are invited until February 14, 2025.

The Securities and Exchange Commission (SEC) is requesting an extension of approval from the Office of Management and Budget (OMB) for a rule relating to money market funds. This rule, called Rule 22e-3, permits these funds to suspend redemptions temporarily to allow for an orderly liquidation. According to the SEC, the process of notifying them about such suspensions has a minimal time requirement, estimated at one hour annually at a cost of $511. Public comments on this request are encouraged and should be submitted by April 3, 2025.

MIAX PEARL, LLC, a self-regulatory organization, has proposed a rule change to expand the number of Limited Service MEO Ports available to its members, doubling the potential from eight to ten for each "Matching Engine." This expansion plan is in response to increased customer demand and the need for more network capacity, which is partly driven by rising market volatility. The fees for these additional ports will remain the same, with the ninth and tenth ports costing $400 per month each, which is the current charge for the seventh and eighth ports. The Securities and Exchange Commission (SEC) is reviewing the proposal and invites public comments on it by January 26, 2021.