Search Results for keywords:"market liquidity"

The Securities and Exchange Commission has announced that NYSE Arca, Inc. filed a proposed rule change to modify its options fee schedule. This change increases the fee for manual executions by NYSE Arca Market Makers from $0.35 to $0.50 per contract. The adjustment aims to align NYSE Arca’s fees with those of at least one competing exchange. The market is highly competitive, with no single exchange gaining considerable pricing power, so this change is not expected to impose any undue competitive burden.

The Nasdaq Stock Market LLC has proposed a rule change to amend its transaction credits, affecting the rebates Qualified Market Makers (QMMs) can receive. Previously, QMMs were challenged by an unexpected increase in sub-dollar trading, which affected their ability to qualify for rebates. The new proposal allows Nasdaq to calculate QMM eligibility for rebates both with and without sub-dollar trades, choosing the most favorable option for QMMs. Additionally, Nasdaq proposes to lower the criteria for earning certain transaction credits to encourage more members to add liquidity, aiming to improve market quality.

On December 20, 2024, Nasdaq ISE, LLC submitted a proposal to the Securities and Exchange Commission to increase the position and exercise limits for options on the iShares Bitcoin Trust ETF (IBIT) from 25,000 to 250,000 contracts. This change aims to reflect the high trading volume and demand for IBIT options, allowing more flexibility for investors and market makers. The proposal suggests that increasing the limits would improve market liquidity and efficiency while ensuring effective regulation. The Securities and Exchange Commission is reviewing this proposal and inviting public comments before deciding whether to approve or disapprove the proposed changes.

The Securities and Exchange Commission has released a notice regarding a proposed rule change by MEMX LLC. The change involves amending a rule to allow MEMX to handle limit orders even when the national best bid or offer (NBBO) is not available, arguing that this will enhance market liquidity and benefit members by enabling the submission of orders that could help establish the NBBO. Unlike market orders, limit orders have a specific price limit set by the user, minimizing the risk of unintended prices due to NBBO unavailability. The Commission has waived the usual delay for the proposal to become operative, allowing it to take immediate effect. Critics or supporters of this change can submit their comments to the Commission as outlined in the notice.

The Cboe Exchange, Inc. has proposed a rule change to update its fees schedule to support listing and trading of options linked to the Cboe Bitcoin U.S. ETF Index and the Cboe Mini Bitcoin U.S. ETF Index. Proposed fees include $0.50 for customer orders and $1.00 for non-customer orders for the Bitcoin ETF Index options and lower fees for the Mini ETF Index options. Standard surcharges, fee programs, and rebates for liquidity providers and market makers are also included in the changes. The proposed incentives aim to encourage liquidity and tighten trading spreads to benefit all market participants.

Cboe EDGX Exchange, Inc. proposed a rule change to modify its fee schedule related to its equities trading platform. The changes focus on updating the Add/Remove Volume Tiers and introducing a new Non-Displayed Step-Up Tier to provide enhanced rebates to members based on certain trading volume criteria. These changes are intended to encourage more order flow to the exchange, improve market liquidity, and provide better pricing options for participants. The proposed amendments aim to foster a more competitive trading environment, benefiting all market participants.

The Miami International Securities Exchange LLC (MIAX Options) has proposed changes to its fee schedule to extend the waiver for certain non-transaction fees applicable to Market Makers trading solely in Proprietary Products, including options on the SPIKES Index, until March 31, 2021. The fees waived include Membership Application fees, Trading Permit fees, API Testing and Certification fees, and MEI Port fees. The aim of these waivers is to encourage Market Makers to trade these Proprietary Products, thereby increasing market liquidity. The Securities and Exchange Commission (SEC) has published this notice to solicit comments from the public on this proposed rule change.

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 EDGA Exchange, Inc. is updating its Fee Schedule by launching a program called the NBBO Setter Program under the new fee code SS. This program aims to improve trading conditions for less frequently traded securities by offering rebates to participants who lead in setting competitive prices. It allows members to potentially earn higher rebates without any volume requirements, thereby encouraging more liquidity and trading activity. The program is designed to benefit the market by making it more competitive and transparent, and is open to all participants on the exchange.

The Securities and Exchange Commission has approved a rule change proposed by The Nasdaq Stock Market LLC. This change allows special purpose acquisition companies (SPACs) to be excluded from the requirement that at least 50% of a company's round lot holders must each hold unrestricted securities valued at a minimum of $2,500 at the time of the company's initial listing. Nasdaq believes that this rule is not necessary for SPACs, as their structure and investor base differ significantly from typical operating companies. The approval aims to align Nasdaq's standards more closely with those of other exchanges while ensuring investor protection and market liquidity.