Search Results for keywords:"proposed rule change"

The Securities and Exchange Commission (SEC) is considering a proposed rule change by The Nasdaq Stock Market LLC. This change involves modifying the package of complimentary services for certain "Eligible Switches" and redefining what qualifies as an Eligible Switch. The SEC extended the period within which they must decide on this proposed rule change to allow more time for thorough consideration. They have set a new deadline of February 3, 2025, to either approve, disapprove, or continue evaluating whether to disapprove the rule change.

The Securities and Exchange Commission (SEC) received a proposed rule change from the Cboe BZX Exchange, Inc. to amend the WisdomTree Bitcoin Fund to allow for in-kind creations and redemptions. Currently, the Trust processes creations and redemptions in cash, but the proposed change will enable them to handle these transactions either in cash or in-kind (using bitcoin). This adjustment is intended to improve the efficiency of the market by allowing authorized participants to transact using bitcoin directly instead of cash, potentially reducing market impact. The SEC is inviting feedback from the public on whether this proposed change aligns with the securities laws.

ICE Clear Credit LLC (ICC) has filed a proposed rule change with the Securities and Exchange Commission to update its Operational Risk Management Framework. These revisions aim to enhance the management and assessment of risks associated with ICC's operations and ensure compliance with relevant regulations. The changes involve aligning its processes with the Enterprise Risk Management Policy of ICC's parent company, Intercontinental Exchange, and clarifying ERM's role in risk reporting and assessment. This proposal does not alter ICC's Clearing Rules and seeks to improve operational transparency and the protection of investors and the public interest.

The Securities and Exchange Commission (SEC) announced that the National Securities Clearing Corporation (NSCC) filed a proposed rule change to its Clearing Agency Risk Management Framework. This proposal aims to update and clarify various processes, such as the quarterly review escalation process and the annual review process regarding "done-away" clearing activity. It also involves removing references to the Systemic Risk Council and making other minor clarifications. The SEC invites the public to comment on this proposed rule change by April 9, 2025.

The Cboe BZX Exchange, Inc. has proposed a rule change, filed with the Securities and Exchange Commission (SEC), to amend Rule 2.8, which concerns the voluntary termination of rights as an Exchange member. Members who wish to terminate their membership must notify the Exchange by the set deadline, following the specified procedure. The SEC invites public comments on whether this rule change aligns with the Securities Exchange Act of 1934. Comments must be submitted by March 31, 2025, using the methods outlined in the notice.

The Securities and Exchange Commission (SEC) has received a proposed rule change from the New York Stock Exchange (NYSE), which suggests modifications to its manual regarding compliance plans for listed companies. The proposed change states that the NYSE will no longer review compliance plans from companies that have unpaid fees and will start suspension and delisting proceedings if these fees remain unpaid. The SEC is extending the time to consider this rule change by 60 days to ensure there is enough time for thorough review. By June 13, 2025, the SEC will decide whether to approve or disapprove the proposal.

On January 24, 2025, the Cboe BZX Exchange, Inc. filed a proposal with the Securities and Exchange Commission (SEC) to list options on the Fidelity Ethereum Fund. The proposal, which was modified with Amendment No. 1, was published for public comment on February 13, 2025, but received no feedback. The SEC, needing more time to review the proposal, extended the deadline for its decision to either approve, disapprove, or start proceedings regarding the proposal from March 30, 2025, to May 14, 2025.

Nasdaq GEMX, LLC has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend its Pricing Schedule at Options 7, Section 3. The proposed updates include removing specific rebates and fees for Penny and Non-Penny Symbols, adjusting market maker and customer fees, and revising qualification criteria for tier thresholds. The SEC is inviting public comments on this proposal, and individuals can submit their feedback either online or through email by April 8, 2025. The proposed changes are intended to take effect immediately under the guidelines of the Securities Exchange Act.

MIAX EMERALD, LLC filed a proposed rule change with the Securities and Exchange Commission on December 20, 2024. This proposal seeks to establish a fee discount program for the Open-Close Report in the MIAX Emerald Options Exchange Fee Schedule. The Exchange has designated the proposal for immediate effectiveness, but the Commission has the authority to suspend it within 60 days if deemed necessary for public interest or investor protection. The Commission invites public comments on the proposal by January 29, 2025, and comments can be submitted electronically or on paper.

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.