SEC Securities and Exchange Commission Release No. 34-101834, File No. SR-CBOE…
Recently, the Securities and Exchange Commission (SEC) announced that it has approved rule changes proposed by the New York Stock Exchange (NYSE) to modernize its listing rules. These changes are aimed at enhancing the marketplace for exchange-traded funds (ETFs) and other exchange-traded products (ETPs).
The new rules will provide increased flexibility for issuers, allowing them to list new types of ETFs and ETPs without the need for individualized Commission approval. This streamlines the process and makes it easier for these products to come to market, ultimately benefiting investors.
One key change is the removal of the previous requirement for ETFs and ETPs to have 100,000 shares outstanding to be listed on the NYSE. This change opens up opportunities for smaller issuers to bring their products to market, increasing competition and choice for investors.
Additionally, the rule changes include provisions for the listing of ETFs and ETPs that do not meet certain quantitative listing standards. This allows for a more flexible and tailored approach to listing criteria, taking into account the specific characteristics of different types of products.
Overall, these rule changes are a positive step towards modernizing and improving the listing process for ETFs and ETPs on the NYSE. By providing greater flexibility and streamlining the approval process, the SEC and NYSE are working to enhance the marketplace for these investment products. Investors can look forward to a more diverse range of options available to them, thanks to these regulatory updates.
