Eco-Stock Exchange Bid: Green Impact Seeks SEC Approval by July 2025
Published Date: 3/12/2025
Notice
Summary
Green Impact Exchange (GIX) is working to become a national securities exchange, which means they want to officially run a marketplace for buying and selling stocks. They've updated their application twice and asked for more time to get approval, now extended to July 18, 2025. This affects investors and companies looking for new trading options, but no money changes yet—just more paperwork and waiting.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 0 costs, 3 mixed.
GIX Will Allow Dual Listings
Amendment No. 2 states that GIX would allow a company listed on another national securities exchange to dually list its shares on GIX if the company meets the remaining listing standards in Chapter 14 (Rules 14.001 et seq.). This change is part of the amended proposed rules submitted on February 28, 2025.
SEC Review Extended to July 18, 2025
On March 6, 2025, GIX consented to extend the Commission's time to grant or deny its Form 1 application. The review period for GIX's registration application is now extended until July 18, 2025, and written comments must be submitted on or before March 27, 2025.
GIX Removes Green Governance Rule
In Amendment No. 2 (filed February 28, 2025), GIX eliminated the proposed Rule Series 14.425 titled "Green Governance Standards." Amendment No. 2 replaces and supersedes the earlier amendment filed February 4, 2025.
Dual Listing Agreement Law Changed to New York
Amendment No. 2 revises Exhibit H-3 to provide that the Dual Listing Agreement would be governed by the laws of the State of New York rather than the State of New Jersey. This revision is included in the February 28, 2025 filing.
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