Search Results for keywords:"alternative payment instructions"

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Search Results: keywords:"alternative payment instructions"

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  • 2025-06913 — Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend MIAX Pearl Options Rule 208, MIAX Pearl Billing System, and MIAX Pearl Equities Rule 3002, Collection of Exchange Fees and Other Claims and Billing Policy
    Type:Notice
    Citation:90 FR 17104
    Reading Time:about 16 minutes

    The Securities and Exchange Commission (SEC) received a proposed rule change from MIAX PEARL, LLC, which aims to amend certain billing rules to allow members to offer alternative payment instructions apart from their designated clearing account numbers. This flexibility is designed to ease potential operational burdens for members when paying fees to the Exchange or MIAX Pearl Equities. The changes ensure that while members can request alternative payment arrangements, the Exchange retains the right to revert to traditional payment methods if required, ensuring that fees are collected efficiently. The SEC has waived the usual 30-day delay for this proposal, allowing it to become effective immediately upon filing.

    Simple Explanation

    MIAX PEARL, a place where people trade things like stocks, wants to let people pay them in different ways to make it easier. But they have to be careful that it doesn't get messy, and they can still go back to the old way if needed to keep things running smoothly.

  • 2025-06907 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 208, MIAX Sapphire Billing System
    Type:Notice
    Citation:90 FR 17090
    Reading Time:about 12 minutes

    MIAX Sapphire, LLC, a self-regulatory organization, has filed a proposed rule change with the Securities and Exchange Commission (SEC) to amend its billing system. The change would allow MIAX Sapphire members to provide alternative payment instructions for direct debit processes, instead of using a Clearing Member's account as currently required. This aims to offer flexibility for members who face operational challenges with the existing system. The SEC is seeking public comments on this proposal and may expedite its effectiveness if it serves the public interest.

    Simple Explanation

    MIAX Sapphire, a group that helps manage financial trading, wants to change its rules so its members can pay in different ways, making things easier for them if they have trouble with the current system. This change will help make payments smoother and quicker for everyone involved.

  • 2025-06912 — Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 208, MIAX Emerald Billing System
    Type:Notice
    Citation:90 FR 17102
    Reading Time:about 12 minutes

    MIAX Emerald, LLC submitted a proposed rule change to the Securities and Exchange Commission to update Exchange Rule 208 regarding billing processes. The change allows Exchange Members to request alternative payment instructions for paying fees and other amounts due to the Exchange, instead of using the Clearing Member's account with the Clearing Corporation. This aims to offer greater flexibility to Members who may face challenges with the current payment method, though the Exchange reserves the right to revert to the standard process if issues arise. The rule change is designed to foster fair trading practices and ensure the Exchange can meet its regulatory obligations.

    Simple Explanation

    Imagine a friendly town where people play a trading game. The town is changing a rule about how players pay to play the game. Now, players can ask to pay in a different way if it's hard for them, like switching from using coins to marbles, but the town leaders can still say "no" if they think it's needed.