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2024-30160 — Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Bylaws of the Exchange's Parent Corporation To Add Provisions Permitting the Board of Directors, in Its Sole Discretion, To Invite One or More Observers To Attend and Participate in Board Meetings in a Non-Voting Capacity and to Make a Conforming Change to the Bylaws
December 19, 2024
Type:Notice
Citation:89 FR 103904
Reading Time:about 17 minutes
The Investors Exchange LLC (IEX) has proposed changes to its parent corporation's bylaws. These changes would allow the Board of Directors to invite non-voting observers to attend and participate in board meetings. The proposed amendment aims to formally codify existing practices, ensuring clear roles and responsibilities for these observers while maintaining confidentiality and regulatory compliance. This proposal is considered non-controversial and is aligned with similar practices at other exchanges like BOX and MEMX, which also allow non-voting board observers.
Simple Explanation
Imagine a group that makes important decisions about a big toy store. They want to let some people listen and join their meetings but not vote. It's like listening in on a secret club but not being able to choose the games to play.
2025-03888 — Self-Regulatory Organizations; Investors Exchange LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Adopt Rules To Govern the Trading of Options on the Exchange for a New Facility Called IEX Options
March 12, 2025
Type:Notice
Citation:90 FR 11866
Reading Time:about a minute or two
The Investors Exchange LLC (IEX) submitted a proposed rule change to the Securities and Exchange Commission (SEC) regarding the trading of options on a new facility named IEX Options. This proposal was published in the Federal Register on January 21, 2025, and has received public comments. Under the Securities Exchange Act, the SEC normally has 45 days to decide on a proposed rule change, but this period can be extended. In this case, the SEC has extended the decision deadline to April 21, 2025, to allow more time to review the proposal and the comments received.
Simple Explanation
The people who help make rules for trading are thinking about starting a new place where people can trade something called "options." They need more time to decide if this is a good idea, so they are waiting a little longer until April 21, 2025, to make sure they understand everything.
2025-01290 — Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing of a Proposed Rule Change to Adopt Rules to Govern the Trading of Options on the Exchange for a New Facility Called IEX Options
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January 21, 2025
Type:Notice
Citation:90 FR 7205
Reading Time:about 2 hours
The Investors Exchange LLC (IEX) has proposed a new rule to create an options trading facility called "IEX Options." This facility will be a fully automated system designed to trade options contracts, similar to other options exchanges. The plan includes implementing guidelines to protect Market Makers from risks, like the execution of outdated quotes, and to ensure fair trading practices. IEX will also adopt certain rules from other exchanges to maintain fairness and efficiency in the options market. The Securities and Exchange Commission is inviting public feedback on this proposal.
Simple Explanation
Imagine IEX is like a new playground for trading money things called "options." They want to make sure everyone plays fair, so they are making new rules like other playgrounds have. But, some people worry it might be tricky to understand how everything works because there are so many rules borrowed from other places.
2025-00168 — Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for 2025
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January 08, 2025
Type:Notice
Citation:90 FR 1561
Reading Time:about 4 minutes
The Securities and Exchange Commission has announced that the Investors Exchange LLC submitted a proposed rule change to establish new fees for 2025 to cover costs related to the National Market System Plan Governing the Consolidated Audit Trail (CAT). This proposal includes a fee called CAT Fee 2025-1 set at $0.000022 per executed equivalent share, which is expected to be effective for six months and aims to recover half of the budgeted costs for 2025. The public is invited to submit comments on the proposal by January 29, 2025.
Simple Explanation
The Investors Exchange LLC wants to charge a tiny fee, like a tiny penny for every share sold in the market, to help pay for a project that keeps track of all buying and selling. They want people to share their thoughts about this by the end of January 2025.

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