Rule filings are not effective until approved by the Securities and Exchange Commission ("SEC"), with the exception of certain types of rule filings that may take effect upon filing with the SEC if they meet the conditions specified under Section 19 of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder. Below are pending rule filings submitted by the Exchange, followed by rule changes that have been approved by the SEC or became immediately effective pursuant to the Exchange Act.
The Exchange proposes to amend Exchange Rule 14.12 (Failure to Meet Listing Standards) to authorize the Listing Qualifications Department to grant Companies an additional 180-day compliance period for deficiencies that require submission of a Plan of Compliance under Rule 14.12(f).
The Exchange proposes to amend the Opening Auction Process provided under Rule 11.23(b)(2)(B) to delay the Opening Auction under certain market conditions in order to improve price discovery and allow executions to occur at prices that better reflect current market conditions.
The Exchange proposes to amend Rule 14.11(j) to eliminate the requirement that the Exchange distribute an information circular prior to the commencement of trading in each UTP Derivative Security.
The Exchange proposes to amend Exchange Rule 11.23(d)(2)(B) (Extending the Quote-Only Period for Initial Public Offering (“IPO”) Auctions) to: (1) delineate between BZX-listed corporate securities and exchange-traded product (“ETP”) IPO Securities; and (2) expand the circumstances under which the Exchange may extend the Quote-Only Period for IPO Auctions in an ETP IPO Security.
The Exchange proposes to amend Rule 11.9(d) to permit an Intermarket Sweep Order containing a time-in-force other than IOC to be entered as a Non-Displayed Order.
The Exchange proposes to list and trade shares of the GraniteShares 4x Long Russell 1000 Daily ETF (“4x Long Fund”) and the GraniteShares 4x Short Russell 1000 Daily ETF (“4x Short Fund” together with the 4x Long Fund, the “Funds”), each a series of GraniteShares ETP Trust (the “Trust”), under Rule 14.11(f)(4) (“Trust Issued Receipts”).
BATS is proposing to amend Rule 14.11, entitled Other Securities, to adopt new criteria for certain securities to be listed on the Exchange as Trust Issued Receipts. BATS is also proposing to list and trade shares of the following funds: ProShares Managed Futures Strategy, ProShares Commodity Managed Futures Strategy, and ProShares Financial Managed Futures Strategy.
BATS is proposing to modify system functionality when the consolidated market is crossed as well as the handling of certain orders that have been routed away.
BATS is proposing to amend BATS Rule 11.19, entitled Short Sales, in connection with the Exchange's status as the primary listing market for certain securities.
BATS is proposing to amend BATS Rules 11.9 and 21.1 to modify the operation of BATS Post Only orders and to make an unrelated change to match trade prevention functionality.
BATS is proposing to amend Rule 14.3 to include additional requirements for the listing of securities that are issued by the Exchange or any of its affiliates.
