Search Results for keywords:"national securities exchange"

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Search Results: keywords:"national securities exchange"

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  • 2025-04412 — In the Matter of the Application of MX2 LLC for Registration as a National Securities Exchange; Findings, Opinion, and Order of the Commission
    💰
    Type:Notice
    Citation:90 FR 12590
    Reading Time:about 85 minutes

    The Securities and Exchange Commission (SEC) has approved the application of MX2 LLC to become a national securities exchange. MX2 will operate similarly to the existing MEMX exchange but will not list new securities; instead, it will trade existing ones through unlisted trading privileges. The exchange will use automated systems with no physical trading floor and partner with the Financial Industry Regulatory Authority (FINRA) for regulatory functions. Several conditions accompany this approval, including joining specific national market system plans and forming regulatory agreements.

    Simple Explanation

    The SEC has decided that a company called MX2 can set up a place where people can buy and sell stocks, just like a big kid playing store with their toys. But instead of getting new toys, they're using what's already on the shelf, and other grown-ups will help make sure everyone plays fair.

  • 2021-02398 — Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule To Adopt a One-Time Membership Application Fee, Application Programming Interface (“API”) Testing and Certification Fees, and Network Connectivity Testing and Certification Fees
    💰
    Type:Notice
    Citation:86 FR 8465
    Reading Time:about 37 minutes

    MIAX Emerald, a national securities exchange, has proposed a rule change to implement new fees, including a one-time membership application fee and testing and certification fees. The membership fee varies based on the applicant's role, with Electronic Exchange Members (EEMs) charged $2,500 and Market Makers $3,000, reflecting the greater complexity in evaluating Market Maker applications. Additionally, fees for Application Programming Interface (API) testing and Network Connectivity are being introduced to offset resources spent in the process. The fees are being structured to ensure they cover the costs incurred by the exchange, without imposing unfair discrimination among market participants.

    Simple Explanation

    MIAX Emerald wants to charge some new fees like a joining fee and fees for testing systems to make sure they work well with theirs, all to cover their costs for helping new members join and test safely. They are trying to be fair by adjusting the fees based on how complex the member's needs are, but some people think it might be confusing or not very clear why some have to pay more than others.

  • 2021-01341 — Order Making Fiscal Year 2021 Annual Adjustments to Transaction Fee Rates
    💰
    Type:Notice
    Citation:86 FR 6694
    Reading Time:about 13 minutes

    The Securities and Exchange Commission (SEC) announced the fiscal year 2021 adjustments to transaction fee rates under Sections 31(b) and (c) of the Securities Exchange Act of 1934. These fee rates are applied based on the total dollar amount of sales of certain securities, either on a national securities exchange or through members of a national securities association. The new fee rate is set at $5.10 per million dollars starting February 25, 2021. This rate aims to cover the SEC’s annual budget of $1,926,162,000, as specified in the Consolidated Appropriations Act, 2021.

    Simple Explanation

    The SEC decided that starting February 25, 2021, they would charge $5.10 for every million dollars of certain stocks sold to help pay their $1.9 billion budget. This plan uses complicated math which some people might find hard to understand.

  • 2025-06563 — In the Matter of the Application of Green Impact Exchange, LLC for Registration as a National Securities Exchange; Findings, Opinion, and Order of the Commission
    💰
    Type:Notice
    Citation:90 FR 16207
    Reading Time:about 102 minutes

    The Securities and Exchange Commission (SEC) has granted Green Impact Exchange, LLC (GIX) approval to register as a national securities exchange. GIX will be responsible for its trading system's regulations and oversight, although some regulatory functions will be outsourced to the Financial Industry Regulatory Authority (FINRA) through a regulatory services agreement. The exchange will operate as an electronic trading platform without a physical trading floor, and its corporate governance and ownership structures align with industry standards to maintain independence and meet SEC requirements. Additionally, GIX plans to utilize technology provided by MEMX Technologies to facilitate trading operations while ensuring compliance with federal securities laws.

    Simple Explanation

    The SEC said it's okay for a new place called Green Impact Exchange to start trading stocks online, a bit like how kids swap toys, but with grown-up rules. They'll have robots (computers) to do the trading without needing a real-life store, and they'll follow special rules to make sure everything is fair.

  • 2024-28551 — In the Matter of the Application of 24X National Exchange LLC for Registration as a National Securities Exchange; Findings, Opinion, and Order of the Commission
    💰
    Type:Notice
    Citation:89 FR 97092
    Reading Time:about 3 hours

    The Securities and Exchange Commission has approved the application of 24X National Exchange LLC to register as a national securities exchange. 24X plans to operate an automated trading platform for trading listed stocks during extended hours, including overnight sessions on weekdays. The exchange will be supported by technology from MEMX Technologies and will use FINRA for certain regulatory functions. To protect investors, 24X must join several national market system plans and implement enhancements like customer risk disclosures before commencing operations.

    Simple Explanation

    The Securities and Exchange Commission has said yes to a new stock market called 24X that will let people trade stocks at night, like an all-night shop. But, they need to make sure it's safe for everyone and double-check their plans so nothing goes wrong.