📈Nasdaq Proposes Rule 5703 for Class ETF Shares Trading
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing of Amendment No. 1 and Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Adopt New Rule 5703 To Permit the Generic Listing and Trading of Class Exchange-Traded Fund Shares
Summary
The document details a notice from the SEC regarding Nasdaq’s proposed Rule 5703, which aims to allow the generic listing and trading of Class ETF Shares. The proposed rule seeks to amend existing regulations, facilitating a more efficient process for ETF providers and enhancing market competition. The SEC is also soliciting comments on the rule change.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document outlines a proposed rule change by Nasdaq to establish Rule 5703, allowing the generic listing and trading of Class ETF Shares. This will have significant regulatory implications for businesses in the financial sector, especially ETF providers, as it streamlines the process for launching new ETF products. Compliance with new listing standards and the potential for increased market activity are critical items for business owners and executives to consider.