Search Results for keywords:"Securities and Exchange Commission"

The Securities and Exchange Commission has issued a notice regarding a proposed rule change by Cboe EDGX Exchange, Inc. This proposal suggests expanding the existing Financial Product Distribution Program to include a new Derived Data Platform Service. The aim is to lower distribution fees for Derived Data and allow broader use of data coming from the Cboe One Summary feed, offering more comprehensive market information across multiple exchanges. This change is intended to enhance competition and provide more options for data distributors without affecting the cost of other exchange products.

The Securities and Exchange Commission (SEC) has issued a statement and is seeking public comments on the safekeeping of digital asset securities by broker-dealers. They highlight the need for innovation in applying existing protection rules to digital assets, which have unique risks like fraud and theft. The SEC proposes a five-year period during which broker-dealers who follow specific guidelines won't face enforcement action if they can show they've taken reasonable steps to control and secure digital asset securities. This initiative aims to balance investor safety with the advancement of the digital asset market.

The Securities and Exchange Commission (SEC) is asking for public comments on a proposed extension of its information collection under Rule 17a-8, which relates to mergers of affiliated investment companies. This rule allows certain mergers to bypass restrictions on transactions between a fund and its affiliates, and it requires directors to evaluate and document key aspects of such mergers. The SEC estimates that this rule affects around 200 funds annually, resulting in a total burden of 1,400 hours and a cost of over $3 million. The public can submit comments on the necessity and burden of these requirements until February 18, 2025.

The Securities and Exchange Commission has announced the filing by BOX Exchange LLC of a rule change to allow options trading on two Bitcoin funds: the Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF. These changes involve amendments to certain rules regarding position limits and criteria for underlying securities, similar to recent approvals granted to Cboe Exchange. The Exchange emphasizes the potential benefits for investors, such as improved market efficiency and transparency, and asserts that its existing surveillance measures are sufficient to ensure fair trading and detect any manipulative practices. The proposed rule change is expected to enhance competition and offer investors a new, priced-efficient way to access Bitcoin-related securities.

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 has received a proposed rule change from NYSE Arca, Inc. to amend its options fee schedule. The change aims to lower the cap on fees for certain options strategy executions from $1,000 to $200 for OTP Holders trading at least 25,000 monthly contract sides. This move is intended to motivate OTP Holders to increase their trading volume on the Exchange, which could enhance market depth, tighten bid-ask spreads, and improve price discovery. The Exchange believes this proposal encourages competition by making NYSE Arca a more attractive venue for strategy executions.

Cboe BZX Exchange, Inc. proposed a rule change with the Securities and Exchange Commission to amend its fee schedule. The proposal aims to expand its Financial Product Distribution Program by introducing a new Derived Data Platform Service. This service would allow distributors to provide financial products using data derived from the Cboe Aggregated Market. Additionally, the proposal includes fee reductions for distributors, particularly for Non-Professional Users, to encourage broader access and distribution of market data.

The NYSE American LLC has proposed a new rule to the Securities and Exchange Commission allowing the listing and trading of options on the iShares Bitcoin Trust, the Fidelity Wise Origin Bitcoin Fund, and the ARK21Shares Bitcoin ETF. This initiative aims to boost market liquidity, price efficiency, and transparency for these Bitcoin-backed funds, ensuring investors have a stable and cost-effective way to engage with the Bitcoin market. The rule also outlines specific position limits and surveillance measures to prevent market manipulation and ensure investor protection. The proposal has been approved for immediate effectiveness, allowing options to be listed once all necessary systems are prepared to handle trading.

Cboe BZX Exchange, Inc. has proposed a new rule to amend its fee schedule by introducing a monthly fee of $350 for each additional Market Participant Identifier (MPID) a member uses, while the first MPID remains free. This change aims to align fees with the benefits received by members using multiple MPIDs and is designed to promote efficient use of these identifiers. The proposal emphasizes competition among exchanges and states that many options are available for trading, meaning the fee is not overly burdensome. The Securities and Exchange Commission is soliciting public comments on this proposed rule change.

MEMX LLC has filed a new rule proposal with the Securities and Exchange Commission to set fees for industry members that will fund the National Market System Plan for the Consolidated Audit Trail (CAT) in 2025. The proposed fee, called CAT Fee 2025-1, is set at $0.000022 per executed share and will be collected from executing brokers starting February 2025, based on January 2025 transactions. This new fee intends to cover about half of the costs for 2025 and will replace the previous year’s CAT Fee 2024-1, which was slightly higher. The public is invited to comment on this proposed rule change by January 27, 2025.