Search Results for keywords:"Exchange Rule 402"

MIAX Sapphire, LLC proposed a rule change to amend its Exchange Rule 402, allowing the listing and trading of options on two bitcoin-backed exchange-traded funds (ETFs): the Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF. The change is in response to similar approvals by other exchanges like Cboe and aims to provide investors with a cost-effective alternative for trading bitcoin-related products in a regulated environment. The proposal includes specific listing standards and surveillance measures to ensure fair trading and prevent manipulation, and it will operate under existing rules already applied to other ETFs.

The Securities and Exchange Commission (SEC) is reviewing a proposed rule change from MIAX PEARL, LLC to amend its Exchange Rule 402. This change would allow the listing and trading of options on Commodity-Based Trust Shares, similar to proposals by other exchanges like Nasdaq ISE and NYSE. Such options would give investors new ways to manage their investments, offering a lower-cost method and increased transparency compared to unregulated markets. Public comments on the proposal are being solicited before a decision is made.