📈Nasdaq MRX Proposes Fee Discount Changes for Market Makers
The Securities and Exchange Commission has published a notice regarding Nasdaq MRX's proposed amendment to its pricing schedule, which aims to increase the fee discount for Market Makers when trading against Priority Customer orders originating from Affiliated Members or Entities. The changes are intended to enhance liquidity and encourage the flow of customer orders to the exchange, impacting trading operations within the options market.
Learn More📈Proposed Rule Change for Grayscale Hedera Trust Trading on Nasdaq
The SEC has opened proceedings to evaluate the proposed rule change allowing the Nasdaq Stock Market to list and trade shares of the Grayscale Hedera Trust (HBAR). This process invites public comments and analyses regarding the initiative's compliance with regulatory standards, particularly concerning preventing fraud and protecting investors' interests.
Learn More📈SEC Notice for Co-Investment Opportunities for BDCs
The SEC has issued a notice regarding an application for an order allowing Vista Credit Strategic Lending Corp. and affiliated companies to co-invest in portfolio companies. This arrangement proposes to permit joint transactions typically prohibited under the Investment Company Act, aiming to enhance collaborative investment efforts among business development companies and affiliated entities.
Learn More📊IEX's Free Trial Program for Real-Time Market Data Products
The Investors Exchange LLC (IEX) is implementing a free trial program for its real-time market data products, specifically TOPS and DEEP. This initiative allows first-time recipients to access these data feeds for up to 30 days without fees, aiming to enhance market data accessibility and stimulate interest among potential subscribers.
Learn More📅Extension of Form PF Compliance Date for Investment Advisers
The Commodity Futures Trading Commission ("CFTC") and the Securities and Exchange Commission ("SEC") (collectively, "we" or "Commissions") are further extending the compliance date for the amendments to Form PF that were adopted on February 8, 2024, from June 12, 2025, to October 1, 2025. Form PF is the confidential reporting form for certain SEC-registered investment advisers to private funds, including those that also are registered with the CFTC as a commodity pool operator ("CPO") or commodity trading adviser ("CTA").
Learn More📈SEC Proceedings on Bitwise Bitcoin and Ethereum ETF Listing Proposal
The Securities and Exchange Commission has initiated proceedings to evaluate a proposed rule change by NYSE Arca to list and trade shares of the Bitwise Bitcoin and Ethereum ETF. The proposal aims to provide exposure to the value of bitcoin and ether, while ensuring compliance with securities regulations to protect investors and the public interest. Interested parties are invited to submit comments on the implications of this proposal.
Learn More💹MEMX Proposes Non-Display Add Tier 3 Fee Schedule Changes
MEMX LLC filed a proposed rule change with the SEC to amend its fee schedule by introducing a new tier, Non-Display Add Tier 3. This tier aims to enhance rebates for certain executing orders, fostering a competitive trading environment and incentivizing members to increase liquidity. The changes are designed to attract more order flow to the exchange, impacting trading costs and strategies.
Learn More📝SEC Notice Corrects Typographical Error in NYSE Texas Filing
The Securities and Exchange Commission published a document in the Federal Register on May 22, 2025, concerning a Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Enhance the NYSE Texas Integrated Feed Market Data Product. The document contained a typographical error.
Learn More📊Proposed Changes to Rule 928NYP Enhancing Trading Risk Controls
The SEC has announced a proposed change to Rule 928NYP, allowing trading firms to implement "Gross Risk Credit Limits" as an optional pre-trade risk control. This proposal aims to enhance risk management practices and assist firms in better managing their financial exposures, thereby contributing to the overall stability of the trading market.
Learn More💼SEC Notice on Co-Investment Application for Business Development Companies
The SEC issued a notice regarding an application for order allowing certain business development companies to co-invest in portfolio companies. The order seeks to promote collaborative investment strategies among BDCs and affiliated entities by granting exemptions from specific prohibitions under the Investment Company Act of 1940.
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