The U.S. Securities and Exchange Commission (SEC) has issued an order relating to a proposed rule change filed by Nasdaq BX, Inc. concerning its options listing standards and the treatment of certain instruments referencing “crypto assets.”
The SEC’s order was published under Release No. 34-104647 and addresses a filing submitted pursuant to Section 19(b)(3)(A) of the Securities Exchange Act and Rule 19b-4. The Commission designated the proposal effective upon filing and waived the standard 30-day operative delay.
Nasdaq BX rule filing seeks options changes
According to the SEC’s order, Nasdaq BX proposed amendments affecting how certain options linked to products holding or referencing crypto assets would be treated under its existing options rules, including provisions related to position and exercise limits.
The filing defines “crypto asset” broadly as an asset generated, issued, or transferred using distributed ledger or similar technology, including digital tokens and virtual currencies.
Procedural market structure development
The SEC’s action does not itself approve a new crypto trading product. Instead, the order reflects the continued processing of exchange rule filings involving crypto-linked instruments within established U.S. derivatives market frameworks.
