Search Results for keywords:"Nasdaq PHLX LLC"

Nasdaq PHLX LLC proposed a rule change to allow market makers to participate in Price Improvement XL auctions for Nasdaq-100 Micro Index Options. The Securities and Exchange Commission (SEC) initially had 45 days to approve, disapprove, or begin proceedings on this rule change, ending on December 21, 2024. However, the SEC extended this period to ensure they have enough time to consider the proposal thoroughly. The new deadline for a decision is February 4, 2025.

Nasdaq PHLX LLC has submitted a proposal to the Securities and Exchange Commission to amend certain definitions related to options trading. The proposed rule change involves updating the definitions of "class" and "series" to align with terms used by related exchanges. This proposal is filed for immediate effectiveness, and the Commission is seeking public comments on whether the change complies with securities laws. Comments can be submitted via the Commission's website or by email.

Nasdaq PHLX LLC proposed a rule change to amend Options 8, Section 22, which deals with options transactions on the trading floor. This change involves relocating certain rule text without changing the requirements, and updating citations in another section to match these amendments. The rule change became effective immediately after filing, as it does not significantly impact investor protection or competition. The Securities and Exchange Commission is inviting public comments on whether this proposed change is appropriate.

Nasdaq PHLX LLC, known as the Exchange, has filed a proposal with the Securities and Exchange Commission (SEC) to delay the implementation of a new Options Regulatory Fee (ORF) and its accompanying methodology. This delay pushes the start of the new ORF to June 1, 2025, and it will end on December 1, 2025. Additionally, starting March 1, 2025, the Exchange plans to revert its ORF to $0.0034 per contract side. The SEC is inviting public comments on this proposal, which aims to ensure the change aligns with regulations.

Nasdaq PHLX LLC proposed a change to allow FLEX Trading in the iShares Bitcoin Trust ETF, which was filed with the Securities and Exchange Commission (SEC) on December 26, 2024. The SEC originally had 45 days to decide on this proposal, but has chosen to extend this period to allow for more thorough consideration. The new deadline for the SEC to approve, disapprove, or consider disapproval of the rule change is set for April 14, 2025. This decision allows the SEC more time to assess the proposal and any feedback received.

Nasdaq PHLX LLC, a self-regulatory organization, has filed a proposed rule change with the Securities and Exchange Commission (SEC) to introduce a FIX Drop Port, similarly used by other Nasdaq exchanges like BX, NOM, ISE, GEMX, and MRX. The FIX Drop Port will be implemented in Options 3, Section 23(b)(3) and is designed for immediate effectiveness. The SEC is inviting the public to comment on this proposed rule change and advises that comments should be submitted by February 24, 2025. All comments will be made public on the SEC's website.

Nasdaq PHLX LLC has filed a proposed rule change with the Securities and Exchange Commission to update its complex order functionality to match that of ISE and MRX, focusing on technology enhancements for better performance and scalability. The proposed updates include adopting the same Legging Order and Complex Order functionalities and new risk protections, aligning rules across the different exchanges to offer a unified experience to market participants. The proposal also includes updates to definitions and order types for complex strategies and aims to limit potential disruptions during times of extreme market volatility, ensuring fair and orderly trading markets.

Nasdaq PHLX LLC has filed a proposed rule change with the Securities and Exchange Commission to update its pricing schedule for certain options trades. The changes include offering a rebate to customers and charging a fee to non-customers for specific trades involving SPY options. Additionally, the exchange plans to charge a stock handling fee for stock-option orders and increase a surcharge on electronic complex orders that remove liquidity in Penny Symbols, excluding those involving SPY. The proposal is available for public comment until March 12, 2025, and details are accessible on both the Nasdaq and SEC websites.

Nasdaq PHLX LLC submitted a proposal to the Securities and Exchange Commission (SEC) on February 4, 2025, to introduce new Nasdaq Bitcoin Index Options. The proposed rule change was officially published for public comment in the Federal Register on February 24, 2025. According to the rules, the SEC originally had 45 days to respond, but they have decided to extend this period to ensure they have enough time to review the proposal thoroughly. The new deadline for the SEC to make a decision is set for May 25, 2025, either to approve, disapprove, or proceed with further evaluation of the rule change.

Nasdaq PHLX LLC has proposed a rule change to enhance its anti-internalization features, which help prevent orders from the same firm from unintentionally trading against each other. This includes allowing firms with different trading strategies to prevent their orders from executing against each other by enhancing self-match prevention capabilities. The proposal also introduces a new strategy called "use remover," allowing resting orders to adopt the strategy of incoming orders, and makes various clarifications to existing rules. These changes aim to provide firms with more flexibility and control while ensuring compliance with trading regulations.