On March 19, the Securities and Exchange Commission approved a proposed rule change filed by Cboe Exchange, Inc. (CBOE) related to permissible off-floor position transfers. Generally, CBOE requires a Trading Permit Holder (TPH) to effect transactions in listed options on an exchange. However, certain types of transfers involving TPH positions are permitted to be effected off the exchange. The approved rule change adds four types of additional off-floor transfers:
Continue Reading SEC Approves CBOE Proposed Rule Change Regarding Off-Floor Position Transfers
off-floor transfers
SEC Designates Decision Deadline for Proposed Off-Floor Position Transfer Rule Changes
By Michael T. Foley & Stanley V. Polit on
Posted in Broker-Dealer
On January 21, the Securities and Exchange Commission published in the Federal Register a release (Release) regarding Cboe Exchange, Inc. rule changes. The Release indicates that SEC must approve or disapprove Cboe rule changes regarding off-floor position transfers (Proposed Rule) by March 19. The SEC moved the original January 19 deadline to March 19 in…
SEC Approves CBOE’s Proposed Rule Change Regarding the Off-Floor Transfer of Options Positions
By Michael T. Foley & Susan Light on
Posted in Broker-Dealer
On October 17, the Securities and Exchange Commission approved a rule proposal filed by Cboe Exchange, Inc. (CBOE) allowing the off-floor transfers of options positions by Trading Permit Holders (TPHs) under a new circumstance.
Under proposed Rule 6.9, positions in options listed on CBOE would be permitted to be transferred outside CBOE by a TPH in connection with transactions to purchase or redeem creation units of exchange-traded fund (ETF) shares between an “authorized participant” and the issuer of such ETF shares. …
Continue Reading SEC Approves CBOE’s Proposed Rule Change Regarding the Off-Floor Transfer of Options Positions
SEC Issues Order Instituting Proceedings Regarding CBOE’s Proposed Rule Change on Off-Floor Position Transfers
By Michael T. Foley & Susan Light on
Posted in Broker-Dealer
On October 21, the Securities and Exchange Commission (SEC) issued an Order Instituting Proceedings (the Order) to determine whether to approve a proposed rule change filed by Cboe Exchange, Inc. (CBOE) regarding off-floor position transfers.
Generally, CBOE requires a Trading Permit Holder (TPH) to effect transactions in listed options on an exchange. …
Continue Reading SEC Issues Order Instituting Proceedings Regarding CBOE’s Proposed Rule Change on Off-Floor Position Transfers