The Securities and Exchange Commission (SEC) is considering a proposed rule change from Cboe Exchange, Inc. to allow trading of flexible exchange options on full-value indexes with a contract multiplier of one. This rule change was initially filed on June 30, 2020, and published for public comment on July 20, 2020. The SEC now has until March 17, 2021, to decide whether to approve or disapprove the rule change after extending the typical decision-making period to account for revisions made through Amendment No. 1. The extension allows the SEC more time to thoroughly review and consider the modifications.
Simple Explanation
The Securities and Exchange Commission is taking more time to decide if they will allow a new type of trading on the Cboe Exchange, which is a place where people buy and sell financial products. They want to make sure everything is safe and understandable before saying yes or no to the new idea.