Extension of Time for Commission Action on Proposed Rule

The Securities and Exchange Commission (SEC) has recently issued a release regarding File No. SR-NYSEArca-2025-13, which pertains to self-regulatory organizations, specifically NYSE Arca, Inc. The notice addresses certain proposed rule changes by NYSE Arca, Inc., seeking to amend its rules related to the listing and trading of certain exchange-traded products (ETPs) on the exchange.

One of the key aspects of the proposed rule changes is the modification of NYSE Arca Rule 5.2-E(j)(6), which currently requires that ETPs be traded on the exchange only when the net asset value (NAV) of the ETP is available. The proposed change would allow for the trading of ETPs regardless of whether the NAV is disseminated or not. This adjustment aims to provide more flexibility in trading ETPs and aligns with the practices of other national securities exchanges.

Additionally, NYSE Arca is proposing to modify Rule 8.200-E to add provisions related to the continued listing standards for series of Managed Business Development Companies (BDCs) Underlying Funds. The changes seek to establish criteria for the initial and continued listing of series of Managed BDCs without relying on a fund’s net asset value.

Furthermore, NYSE Arca is suggesting revisions to its rules regarding the listing and trading of Managed BDCs and Managed BDC Underlying Funds to harmonize the rules with those of other national securities exchanges. These changes aim to streamline the trading processes for these investment products and enhance market efficiency.

In response to the proposed changes, the SEC is seeking comments from interested parties to better understand the potential implications of these amendments. The SEC encourages stakeholders to provide feedback on the proposed modifications to NYSE Arca’s rules and how they may impact the trading and listing of ETPs and Managed BDCs on the exchange.

Overall, the proposed rule changes by NYSE Arca, Inc. aim to enhance the trading processes for ETPs and Managed BDCs on the exchange. By seeking to align its rules with industry best practices and the standards of other national securities exchanges, NYSE Arca aims to improve market efficiency and provide investors with greater flexibility in trading these investment products. The SEC’s release serves as an opportunity for stakeholders to review and comment on the proposed changes before any final decisions are made.