Search Results for keywords:"market efficiency"

The Nasdaq Stock Market LLC has proposed a rule change to the Securities and Exchange Commission (SEC) related to shares of the iShares Bitcoin Trust. This proposal will allow "in-kind" transfers of bitcoin, alongside the existing cash process, in the trust's creation and redemption of shares. The change aims to enhance efficiency by letting specific participants source bitcoin themselves, which may reduce the trust's market impact and benefit investors. The SEC is seeking public comments on this proposal.

The Securities and Exchange Commission (SEC) has received an application to amend a previous order regarding exchange-traded funds (ETFs) managed by Natixis Advisors, L.P. The application seeks to allow these funds more flexibility in the composition of "Creation Baskets," which are collections of securities that investors can use to create or redeem shares in the fund. This change would enable ETFs to include securities not listed in their Proxy Portfolio, with the goal of reducing costs and improving efficiency without negatively affecting the funds or their shareholders. The SEC will grant the order unless a hearing on the application is requested.

Cboe Exchange, Inc. has proposed a rule change to modify its opening process for simple orders on its trading platform. The main goal is to enable series to open for trading on Cboe sooner, especially if they have already opened on other options exchanges. The exchange plans to adopt a "forced opening" procedure, allowing certain series to open automatically after a set time, as long as the market conditions are met and even if they don't meet all current opening requirements. This change aims to enhance market efficiency and ensure investor protection by providing more trading opportunities.

The Cboe BZX Exchange, Inc. has proposed a rule change to allow the Invesco Focused Discovery Growth ETF and the Invesco Select Growth ETF to publish multiple intra-day and end-of-day net asset values (NAVs). This change aims to provide more information about the funds' holdings, helping investors assess risk and getting closer estimates of a fund's value. The proposal is intended to improve the efficiency of the market by reducing risks for market participants and encouraging tighter spreads and better liquidity. The Securities and Exchange Commission (SEC) is seeking public comments on this proposed rule change.

The Federal Reserve Board has finalized a rule that expands the definition of "financial institution" in Regulation EE, which is part of the Federal Deposit Insurance Corporation Improvement Act of 1991. This change is meant to enhance the netting protections under FDICIA, reduce systemic risk, and increase market efficiency. The new rule adds a variety of entities to the definition, including swap dealers, security-based swap dealers, and foreign central banks, among others. It also clarifies the activities-based test used to determine if an entity qualifies as a financial institution.

The Cboe EDGX Exchange, Inc. has proposed a rule change to improve its process for opening trading for simple orders. This change aims to allow trading to start sooner by implementing a "forced opening" if a series is already trading on another exchange, even if certain conditions on Cboe haven't been met. The proposed change prioritizes investor interests and attempts to keep fair competition by allowing orders to start trading as soon as another market has opened them. Additionally, users can manage how their orders are handled during this process, providing flexibility and protecting against unfair trades. The Securities and Exchange Commission (SEC) is allowing this proposed rule to become effective immediately to enhance market efficiency.

The Commodity Futures Trading Commission (CFTC) has established rules for exempting certain foreign derivatives clearing organizations (DCOs) from the registration requirement, as long as these organizations are subject to comprehensive supervision by their home country's regulator. These exemptions allow the foreign DCOs to clear swaps for U.S. persons' own accounts but not for customers, ensuring that U.S. market participants have more options. The CFTC is adopting this final rule, which sets out the procedures for obtaining an exemption, the conditions that must be met, and the reporting requirements needed to maintain the exemption. The regulation aims to promote international cooperation and market efficiency while maintaining important regulatory standards.

The Securities and Exchange Commission (SEC) has approved a rule change by the Financial Industry Regulatory Authority (FINRA) to create a New Issue Reference Data Service for corporate bonds. This service will require underwriters to report specific data on new corporate bond issues to FINRA, which will then make this information publicly available. The goal is to reduce information asymmetry and improve market efficiency by ensuring all market participants have timely access to essential bond reference data. The SEC found that this change is consistent with the requirements of the Securities Exchange Act of 1934 and will enhance transparency and competition in the corporate bond market without imposing unnecessary burdens on competition.

The Securities and Exchange Commission has approved proposed rule changes by four exchanges—Cboe BYX, Cboe BZX, Cboe EDGA, and Cboe EDGX. These changes aim to automate the process for re-opening trading of NYSE-listed securities outside of regular hours when a halt is lifted. Previously, this was done manually by exchange staff, but the new system will automatically restart trading if certain conditions are met, improving efficiency. The SEC found these changes to be consistent with regulations that ensure a fair and open market, with no public comments opposing the proposals.

The Cboe EDGX Exchange, Inc. has proposed changes to its fee schedule that affect the criteria for Remove Volume Tier 2 and Retail Volume Tier 1, which was filed with the Securities and Exchange Commission (SEC) on March 7, 2025. The proposal is effective immediately, and the SEC is seeking public comments on whether the changes align with existing regulations. Interested individuals can submit comments through the SEC's website or email by April 7, 2025. The key focus is on ensuring that these changes continue to support investor protection and market efficiency.