The Securities and Exchange Commission (SEC) has announced that the Cboe EDGX Exchange, Inc. has filed a proposed rule change. This change aims to align the exchange's rules for listing options with $1 strike prices with those of its affiliate, Cboe Exchange, Inc. The SEC has approved an immediate effect for this rule change, bypassing the usual 30-day waiting period, because it does not raise new regulatory concerns and helps ensure consistent rules across related exchanges. The public is invited to submit comments on this rule change by February 19, 2025.
Simple Explanation
The SEC is letting two sister companies, Cboe EDGX Exchange and Cboe Exchange, use similar rules for selling certain special options so that everything is fair and the same. People can tell the SEC what they think about this new rule by February 19, 2025.