Search Results for keywords:"self-regulatory organizations"

Nasdaq PHLX LLC has proposed a rule change to reorganize its PSX equity and general rules by moving them into a new Rulebook shell. This reorganization is part of an effort to make the Rulebook easier to use and more consistent across Nasdaq's affiliated exchanges. The proposed changes include updating rule references, removing outdated rules, and making minor technical corrections. The Securities and Exchange Commission has allowed this proposal to take effect immediately to facilitate a more streamlined rule management process.

Nasdaq BX, Inc. has proposed a rule change to adjust certain exchange fees based on inflation rates. These fee adjustments, which took effect upon proposal and will become fully operative by January 1, 2025, aim to restore the real value of fees that have remained static over time, eroding in purchasing power due to inflation. The changes will occur in three phases over three years, affecting specific market data products but not all fee categories. The adjustments are calculated using the Data Processing Producer Price Index (PPI) and aim to support the Exchange's ongoing investments in its data products and services.

The Cboe C2 Exchange, Inc. has announced a proposed change to increase the monthly fee for a 10 Gb physical port, effective immediately as of February 14, 2025. This proposal was filed with the Securities and Exchange Commission (SEC) which is now inviting public comments on this change until March 27, 2025. The documents related to this proposal are available on both the Exchange's and SEC's websites. The public is encouraged to share their views on whether the proposed rule change aligns with the Securities Exchange Act of 1934.

Cboe BYX Exchange, Inc. has filed a proposed rule change with the Securities and Exchange Commission to amend its fee schedule, focusing on handling billing errors and disputes. The proposed change would make all fees and rebates final after three months, aiming to encourage timely review of invoices by members and non-members. The proposed rule also requires any fee disputes to be submitted in writing with supporting documentation within this period. The Exchange believes that these changes will reduce administrative burdens and create a fair, consistent policy for resolving billing issues.

The Securities and Exchange Commission (SEC) disapproved a proposed rule change by BOX Exchange LLC to establish the Boston Security Token Exchange LLC as a facility for trading securities. This decision was made because the related BSTX Trading Rules Proposal, which outlined how trading would occur and how the exchange would regulate it, was also disapproved. The SEC found that without these approved trading rules, BOX Exchange could not ensure the proposed exchange would operate in a manner consistent with the Exchange Act. Consequently, the proposed rule change did not meet the regulatory requirements set forth by the Exchange Act.

The Securities and Exchange Commission (SEC) announced a proposed rule change by NYSE Texas to adopt NYSE Rule 4530 with minor modifications. This rule requires detailed reporting on events like statutory disqualifications and customer complaints for better regulatory oversight. The new rule aligns NYSE Texas with the NYSE and FINRA's requirements, improving consistency and easing compliance for firms already following similar protocols. The SEC is seeking public comments on this proposal, emphasizing the importance of transparency and effective market regulation.

The Securities and Exchange Commission has released a notice regarding a proposed rule change by MEMX LLC. The change involves amending a rule to allow MEMX to handle limit orders even when the national best bid or offer (NBBO) is not available, arguing that this will enhance market liquidity and benefit members by enabling the submission of orders that could help establish the NBBO. Unlike market orders, limit orders have a specific price limit set by the user, minimizing the risk of unintended prices due to NBBO unavailability. The Commission has waived the usual delay for the proposal to become operative, allowing it to take immediate effect. Critics or supporters of this change can submit their comments to the Commission as outlined in the notice.

The Securities and Exchange Commission (SEC) is reviewing a proposed rule change submitted by the Nasdaq Stock Market to allow the listing and trading of shares for the CoinShares Litecoin ETF. This proposal was originally filed on February 7, 2025, and published in the Federal Register on February 25, 2025. Although the SEC initially had 45 days to make a decision on the proposal, it has extended the deadline to May 26, 2025, to allow more time to consider the proposal and the issues it raises.

The Securities and Exchange Commission (SEC) has approved a proposed change to the rules of the Investors Exchange LLC (IEX). This change will reduce the delay time for messages sent from IEX back to its users, cutting the latency from 350 microseconds to 37 microseconds. The decision eliminates the need for using coiled optical fiber, which originally helped prevent information leaks that could affect trading. The update aims to enhance the efficiency and competitiveness of trading without giving IEX Services LLC (IEXS) or any other member an unfair advantage.

The Securities and Exchange Commission (SEC) has requested the Office of Management and Budget (OMB) to approve an extension for collecting fingerprint information as required by Rule 17f-2(c) under the Securities Exchange Act of 1934. This rule involves the submission of fingerprints by certain people in the securities industry to the FBI through registered exchanges or associations, known as self-regulatory organizations (SROs). About 3,900 entities submit roughly 281,804 fingerprints annually, which takes around 70,451 hours in total. Fees for processing these fingerprints amount to over $7 million per year, ensuring careful handling and confidentiality.