Federal Register #SR-MIAX-2026-36

SEC Notice: MIAX and MEMX Rule Changes for ETF Options Expirations and Event Contracts

This notice from the Securities and Exchange Commission (SEC) details proposed rule changes by Miami International Securities Exchange, LLC (MIAX) and MEMX LLC regarding options trading on Exchange-Traded Funds (ETFs) and event contracts. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors Mentioned: - Miami International Securities Exchange, LLC (MIAX) - MEMX LLC - Various ETF issuers (e.g., VanEck, SPDR) - Products/Services Requested: - No procurement of products or services; this is a regulatory notice - Rule amendments to allow: - Up to two Tuesday and Thursday expirations for options on Tier 1 ETFs (meeting current criteria) - Up to two Monday and Wednesday expirations for options on Tier 2 ETFs (meeting new criteria) - Listing and trading of securities event contracts as standardized options on MEMX Options - Unique or Notable Requirements: - Introduction of a tiered system for qualifying securities based on liquidity and trading volume - Strict eligibility criteria for ETFs to qualify for expanded expirations - Surveillance and capacity assurances to maintain market integrity - Alignment with similar rules approved for other exchanges - Event contracts are cash-settled, European-style binary options based on outcomes related to NMS stock issuers - No procurement or contract opportunity is present; this is a regulatory update.

Description

The Securities and Exchange Commission has filed a proposed rule change by Miami International Securities Exchange, LLC (MIAX) to amend Rule 404 regarding series of option contracts open for trading and the Short Term Option Series Program concerning qualifying securities. The proposal includes permitting the listing of up to two Tuesday and Thursday expirations for options on certain Exchange-Traded Funds that meet current criteria, and permitting up to two Monday and Wednesday expirations for options on additional Exchange-Traded Fund Shares that meet new criteria. The rule change aims to enhance the exchange's operations and compliance with regulatory standards and is effective immediately upon filing.

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