Search Results for keywords:"Nasdaq PHLX LLC"

The Securities and Exchange Commission has received a proposal from Nasdaq PHLX LLC to allow FLEX Trading in options for the iShares Bitcoin Trust ETF (IBIT). This would enable these options to trade as both cash-settled and physically settled, with a consolidated limit of 25,000 contracts, which aims to prevent market manipulation and protect investors. The proposal is intended to broaden the range of available trading products and better manage investment risks in bitcoin-related products. Public comments are invited on whether this proposal aligns with the Securities Exchange Act's standards.

Nasdaq PHLX LLC filed a proposed rule change with the Securities and Exchange Commission to adjust certain fees for its market data products based on inflation. The changes are intended to restore fees to their original real value, as many have not been updated for years and have decreased in real terms due to inflation. The adjustments will be phased in over three years, starting in 2025. The exchange claims this change is necessary to recoup investments made to enhance their products and maintain technology infrastructure, ensuring they continue to meet the needs of their customers.

Nasdaq PHLX LLC proposed changes to lower the Options Regulatory Fee (ORF) starting in 2025. From November 1, 2024, to December 31, 2024, they plan to reduce the ORF fee from $0.0034 to $0.0022 per contract. Beginning January 1, 2025, the methodology for assessing ORF will change to include different rates for options traded on different exchanges, with new rates applied to various transactions except those by market makers. The proposal aims to ensure that the fees collected cover regulatory costs without exceeding them.

Nasdaq PHLX LLC has proposed a new rule to establish fees for expanded co-location services at its data center in Carteret, NJ, as filed with the Securities and Exchange Commission. The proposal introduces a range of fees for new Ultra High Density Cabinets, cabinet installation, and power distribution units (PDUs) in the expanded facility, known as NY11-4. These changes are intended to reflect the costs and operational efficiencies of supporting higher density power options. The fees, which are consistent with market rates, are meant to cover the increased costs and provide flexibility for customers in managing their connections to the exchange.

The Securities and Exchange Commission (SEC) announced that Nasdaq PHLX LLC has proposed a new rule to allow the listing and trading of options based on 1/100th of the Nasdaq-100 Index, known as Nasdaq 100 Micro Index Options (XND). These micro options are designed to offer more affordable opportunities for retail investors interested in trading options on the Nasdaq-100 Index. Similar to existing options, XND options will be European-style and cash-settled, but will require less capital, making them more accessible. The SEC is soliciting public comments on this proposed rule change before making a final decision.

Nasdaq PHLX LLC proposed changes to its pricing schedule to modify the Qualified Market Maker (QMM) Program. The revisions involve increasing the number of securities a QMM must quote at the national best bid and offer (NBBO) to qualify for certain credits, while decreasing the number needed to earn higher supplemental credits, aiming to enhance market quality. The Exchange believes these adjustments are reasonable, equitable, and non-discriminatory, promoting better market participation and quality. Comments on the proposed changes are invited from the public via the Securities and Exchange Commission (SEC) within a specified timeframe.

Nasdaq PHLX LLC has filed a proposed rule change with the Securities and Exchange Commission to update its complex order functionality to match that of ISE and MRX, focusing on technology enhancements for better performance and scalability. The proposed updates include adopting the same Legging Order and Complex Order functionalities and new risk protections, aligning rules across the different exchanges to offer a unified experience to market participants. The proposal also includes updates to definitions and order types for complex strategies and aims to limit potential disruptions during times of extreme market volatility, ensuring fair and orderly trading markets.

The Securities and Exchange Commission has issued a notice about a proposed rule change by Nasdaq PHLX LLC. The change allows for a "Virtual Trading Crowd" to operate when their physical trading floor is unavailable. This proposal, influenced by COVID-19, aims to ensure that trading can continue in a virtual environment similar to in-person open outcry trading. It includes measures for communication and security to maintain the integrity and smooth operation of the trading system.

Nasdaq PHLX LLC has proposed a rule change to its Customer Rebate Program, seeking approval from the Securities and Exchange Commission (SEC). The change involves paying only the higher rebate to a member when they qualify for two different rebate incentives in the same month, rather than providing both. This amendment is intended to simplify the rebate structure while still motivating members to engage with customer orders. The proposal aims to ensure equitable and fair rebates among members, without imposing any undue burden on market competition.

Nasdaq PHLX LLC has proposed changes to its fees for data products related to options trading. The changes would increase monthly fees for Internal and External Distributors for the Top of PHLX Options (TOPO), PHLX Orders, and TOPO Plus Orders, while keeping the fees for Non-Professional and Professional Subscribers the same. The proposal highlights that these changes will align Nasdaq PHLX's fees with those of other exchanges, and aims to provide a fair allocation of costs among users. The Securities and Exchange Commission is reviewing the proposed changes and seeking public comment before making a final decision.