Stock Exchange Discovers Dictionary, Updates Word Definitions
Published Date: 1/8/2025
Notice
Summary
Nasdaq PHLX is updating how it defines “class” and “series” for options to match the terms used by its sister exchanges. This change affects traders and firms using Nasdaq PHLX and takes effect immediately, making things clearer and smoother without any new fees. The SEC is open to comments for the next 60 days but won’t delay the update unless there’s a big problem.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Options Definitions Harmonized Immediately
If you trade or operate a firm on Nasdaq PHLX, the exchange changed the definitions of the terms "class" and "series" for options to match its affiliated exchanges. The change was filed on December 20, 2024 and was made effective immediately, and the Exchange said there are no new fees for this update.
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Previous: 2025-00172, Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Definitions of “Class” and “Series” To Harmonize Terms With Affiliated Exchanges
Nasdaq BX is updating how it defines “class” and “series” for options to match the terms used by its sister exchanges. This change affects traders and market participants by making things clearer and more consistent across platforms. The update took effect immediately on December 20, 2024, with no direct cost impact, but it helps everyone speak the same options language.
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