Search Results for keywords:"Securities and Exchange Commission"

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.

The Options Clearing Corporation (OCC) has submitted a proposal for changes to a Master Repurchase Agreement involving a billion-dollar liquidity facility, which is aimed at enhancing their overall liquidity strategy. The proposed change introduces a limited right for the bank counterparty to rehypothecate non-customer collateral, which is intended to make the agreement more commercially appealing and increase funding sources. OCC believes this will strengthen its risk management capabilities and make it easier to manage financial obligations, thus supporting broader financial stability. The Securities and Exchange Commission is inviting public comments on this proposal before making a decision.

MIAX Sapphire, LLC proposed a rule change to amend its Exchange Rule 402, allowing the listing and trading of options on two bitcoin-backed exchange-traded funds (ETFs): the Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF. The change is in response to similar approvals by other exchanges like Cboe and aims to provide investors with a cost-effective alternative for trading bitcoin-related products in a regulated environment. The proposal includes specific listing standards and surveillance measures to ensure fair trading and prevent manipulation, and it will operate under existing rules already applied to other ETFs.

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.

Nasdaq PHLX LLC, known as the Exchange, has filed a proposal with the Securities and Exchange Commission (SEC) to delay the implementation of a new Options Regulatory Fee (ORF) and its accompanying methodology. This delay pushes the start of the new ORF to June 1, 2025, and it will end on December 1, 2025. Additionally, starting March 1, 2025, the Exchange plans to revert its ORF to $0.0034 per contract side. The SEC is inviting public comments on this proposal, which aims to ensure the change aligns with regulations.

The Securities and Exchange Commission has announced that MIAX Sapphire, LLC has proposed a rule change related to fees for Industry Members connected to the National Market System Plan governing the Consolidated Audit Trail (CAT) for 2025. This change involves a fee called CAT Fee 2025-1, set at $0.000022 per executed equivalent share. These fees, aimed at covering part of the CAT costs for 2025, will replace the previous CAT Fee 2024-1. Interested individuals can submit comments on the proposal by February 6, 2025.

The Securities and Exchange Commission (SEC) is inviting public comments on the continued collection of information for Rule 12f-1 under the Securities Exchange Act of 1934. This rule requires exchanges to provide information when applying to reinstate unlisted trading privileges (UTP) in a security whose UTP had been suspended. The SEC estimates that it takes about one hour to complete each application, with a total cost of $221 per response, resulting in an annual compliance cost of approximately $5,304 for all respondents. The SEC is seeking feedback on the necessity, accuracy, and efficiency of this information collection process, and comments must be submitted within 60 days of publication.

Cboe EDGA Exchange, Inc. filed a proposed rule change with the Securities and Exchange Commission to update its fee schedule. This change involves eliminating certain routing fee codes due to minimal use and amending an Add/Remove Volume Tier to encourage more order flow on the exchange. The goal is to create competitive pricing that attracts market participants while maintaining a fair and equitable fee structure for all members. The proposal has been made effective immediately, but may be suspended by the Commission if deemed necessary.

The Cboe EDGX Exchange, Inc. is proposing a new fee structure for users wishing to purchase Dedicated Cores instead of sharing CPU resources. These Dedicated Cores can enhance trading performance by reducing latency and improving throughput. They are optional, and users can choose to stick to shared resources. The first two Dedicated Cores are free, while additional cores incur progressive fees. The proposal aims to manage the finite CPU resources fairly and is part of the exchange's efforts to keep up with growing user demand.

The Securities and Exchange Commission published a notice about a rule change proposed by the Investors Exchange LLC (IEX). IEX wants to establish rules for trading options on a new platform called IEX Options. This platform aims to enhance risk management for market makers by introducing features like automated trading, risk controls, and a mechanism to prevent trading at outdated prices. The SEC is inviting public comments on this proposal before making a final decision.