NYSE Texas Rule Change for Class ETF Shares Trading
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The rule allows NYSE Texas to list and trade Class Exchange-Traded Fund (ETF) Shares without prior individual approval from the SEC. It aligns NYSE Texas rules with those of its affiliated exchange, NYSE Arca, speeding up the listing process and facilitating competition among ETF issuers, ultimately benefiting investors.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Allows NYSE Texas to list Class ETF Shares generically.
- Aligns NYSE Texas rules with NYSE Arca.
- Facilitates quicker ETF listings without SEC pre-approval.
Obligations
What this law requires
NYSE Texas must adopt new Rule 5.2(j)(9) to permit the generic listing and trading of Class Exchange-Traded Fund (ETF) Shares
NYSE Texas must make conforming changes to Exchange rules to accommodate the proposed listing of Class ETF Shares
Class ETF Shares must meet specified criteria in Rule 5.2(j)(9) to be considered for trading on NYSE Texas, whether by listing or pursuant to unlisted trading privileges
Multi-Class Funds must obtain and maintain compliance with Multi-Class Fund Exemptive Relief granted by order under the Investment Company Act
Multi-Class Funds must comply with requirements of Rules 5.2(j)(9)(e)(1)(ii) and 5.2(j)(9)(e)(2)(A)(ii) on an initial and continued listing basis