Search Results for keywords:"FLEX Options"

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Search Results: keywords:"FLEX Options"

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  • 2024-31090 — Self-Regulatory Organizations; NYSE American LLC; Notice of Filing of Proposed Change To Amend Certain Rules Related to Flexible Exchange Options
    Type:Notice
    Citation:89 FR 105669
    Reading Time:about 21 minutes

    The NYSE American LLC has proposed a rule change regarding Flexible Exchange (FLEX) Options to include trading on the Grayscale Bitcoin Trust (GBTC). The rule suggests that FLEX GBTC options carry the same position limits as existing GBTC options, restricting both to 25,000 contracts to mitigate market manipulation risks. The Exchange believes FLEX GBTC options will offer advantages over over-the-counter (OTC) options, such as increased liquidity, transparency, and reduced counter-party credit risk, helping investors manage risks associated with bitcoin volatility. The Securities and Exchange Commission (SEC) is soliciting public comments on this proposal before making a decision on its approval.

    Simple Explanation

    The NYSE American wants to make a new rule to let people trade a special kind of option (a type of investment) for something called Bitcoin, using an organization called Grayscale Bitcoin Trust. They think this will make things easier and safer for people wanting to trade, but they also want to be careful and make sure it's done safely by setting limits on how much people can trade.

  • 2024-29918 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend FLEX Floor Trading
    Type:Notice
    Citation:89 FR 103002
    Reading Time:about 2 minutes

    Nasdaq PHLX LLC proposed a rule change to the Securities and Exchange Commission (SEC), aiming to clarify and modify several aspects of its FLEX Options trading. These changes include clarifying certain trading functionalities, listing specific FLEX Index Options, and setting criteria for cash settlement of FLEX Options on certain Exchange-Traded Funds. The SEC, needing more time to review the proposal, extended the deadline for their decision until January 27, 2025. The proposed rule change had been available for public comment, but no comments were received.

    Simple Explanation

    Nasdaq PHLX LLC wants to change some rules about how people can trade special options called FLEX Options, but the SEC needs more time to think about these changes, so they’ve decided to make their decision next month.

  • 2025-02084 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of Amendment No. 2 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 2, Regarding the Types of Complex Orders Available for Flexible Exchange Options (“FLEX”) Trading on the Exchange
    Type:Notice
    Citation:90 FR 8822
    Reading Time:about 40 minutes

    The Securities and Exchange Commission has approved a new rule change proposed by Cboe Exchange, Inc. to broaden the types of complex orders available for trading Flexible Exchange Options (FLEX). Previously, investors could only trade FLEX Options in separate orders if they included both FLEX and non-FLEX securities. The updated rule allows for a new type of complex order, called "FLEX v. Non-FLEX Order," which combines FLEX and non-FLEX components within the same order. This approval is designed to streamline trading by reducing price and legging risks, thereby offering more flexibility and efficiency in managing investment strategies.

    Simple Explanation

    The rules have changed to make it easier for people trading certain types of special stock options, called FLEX options, to do so in a way that combines both special and regular parts in one order. This change helps save time and money and lets them trade more safely.

  • 2024-28259 — Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FLEX Options Listing
    Type:Notice
    Citation:89 FR 95851
    Reading Time:about 9 minutes

    Nasdaq ISE, LLC has proposed a rule change to avoid trading Flexible Exchange Options (FLEX Options) on certain Bitcoin-related investment products. These include options on Bitcoin trusts like the Fidelity Wise Origin Bitcoin Fund and the Grayscale Bitcoin Trust, among others. This decision is in line with previous approvals that limit position and exercise limits to 25,000 contracts for these trusts. The change ensures that these options will not conflict with the existing rules, maintaining consistent limits across exchanges and protecting investor interests.

    Simple Explanation

    Imagine a big playground where only a certain number of kids can play with a special toy. Some rules were made so that everyone stays happy and safe, and one of the big playgrounds, called Nasdaq, decided not to let kids play with the toy in a new way using something like pretend Bitcoins, so everything stays nice and fair.

  • 2025-01995 — Self-Regulatory Organizations; Nasdaq ISE, LLC; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend FLEX Floor Trading
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    Type:Notice
    Citation:90 FR 8726
    Reading Time:about 11 minutes

    The Securities and Exchange Commission (SEC) is reviewing a proposed rule change by Nasdaq PHLX LLC related to FLEX Options trading on their Exchange. This proposed change involves amendments to the trading rules, including the clarification of functionality, the listing of certain options types, and adjustments to settlement processes. The SEC has not yet reached a decision and is inviting public commentary to help assess the consistency of these changes with financial regulations. Interested parties can submit their views or concerns by February 21, 2025, with rebuttal comments due by March 7, 2025.

    Simple Explanation

    The SEC is thinking about allowing some changes to how a big stock market trades special types of options, but they want people to tell them what they think about these changes before they decide.

  • 2025-04658 — Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for FLEX Options
    Type:Notice
    Citation:90 FR 13260
    Reading Time:about 3 minutes

    Nasdaq ISE, LLC has proposed a new rule to establish fees for its flexible exchange options, known as FLEX Options. This proposal was filed with the Securities and Exchange Commission (SEC) and will be effective immediately, with the changes set to operate starting April 7, 2025. The SEC is inviting the public to comment on this proposed rule change by April 10, 2025. Interested persons can submit their comments electronically or via mail, ensuring to reference the file number SR-ISE-2025-10.

    Simple Explanation

    Nasdaq ISE wants to start charging new fees for a special kind of option trading called FLEX Options, and they told the SEC about it. They want people to say what they think about these fees by April 10, but the fees will start being used from April 7, 2025.

  • 2025-02685 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rules Regarding the Position and Exercise Limits for Options on the Grayscale Bitcoin Trust and To Permit Flexible Exchange Options on the Grayscale Bitcoin Trust
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    Type:Notice
    Citation:90 FR 9765
    Reading Time:about 32 minutes

    The Securities and Exchange Commission has shared a proposed rule change by NYSE Arca, Inc. to alter the limits for options on the Grayscale Bitcoin Trust (GBTC). Specifically, it aims to increase the position and exercise limits from 25,000 to 250,000 contracts, and to allow GBTC options to trade as Flexible Exchange Options (FLEX Options). The proposal is intended to boost market activity by enabling larger trades, improve competition against over-the-counter markets, and offer new trading tools similar to existing options on ETFs like gold and silver shares. The Commission is inviting public comments on this proposed change.

    Simple Explanation

    The Securities and Exchange Commission is thinking about letting people trade more options on a Bitcoin trust, kind of like trading cards, so they can trade up to 250,000 at once instead of just 25,000. This change could make trading more exciting by giving people more ways to trade, similar to other well-known options on gold and silver.