NYSE Updates Boring Rules for Commodity Shares
Published Date: 4/30/2026
Notice
Summary
NYSE Arca wants to update the rules for listing Commodity-Based Trust Shares to make sure at least 85% of their value comes from approved assets. They’re also clarifying what counts as a 'commodity' under these rules. This change affects investors and issuers and aims to keep things clear and fair, with the new rules kicking in after SEC approval.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
85% Rule for Commodity ETP Holdings
If a trust wants to list Commodity-Based Trust Shares under the generic standard, at least 85% of the trust's net asset value (NAV) must be in assets already allowed by the rule (eligible commodities, commodity-based assets, qualifying securities, or cash and cash equivalents). Up to 15% of NAV may be other assets; listed and OTC derivatives are counted toward the 85% test using their aggregate gross notional value. The trust sponsor must monitor the 85% threshold daily and promptly notify the Exchange if the trust falls below the requirement.
NFTs and Collectibles Excluded
The Exchange would change the definition of "commodity" to exclude non-fungible assets and collectibles from the generic listing standards for Commodity-Based Trust Shares. That means trusts relying on the generic standard could not treat NFTs or collectibles as eligible commodities, though the Exchange could still propose a separate rule change to list products that include them.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026, because changes could affect how audits are done and funded.
2026-09742 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule To Adopt a New Fee Code for Market-Maker Complex Orders Executed on the Complex Order Book That Add Liquidity in Penny Program Securities and To Amend Its Orders Submitted With a Designated Give Up Program
Starting May 1, 2026, Cboe BZX Exchange is updating its fees to add a new code for Market-Maker Complex orders that add liquidity in penny stocks. They’re also tweaking rules for orders using a special Give Up program. These changes mainly affect market makers and traders using complex orders, aiming to make fees clearer and trading smoother.
2026-09745 — Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for May 1, 2026 Through December 31, 2026
Starting May 1, 2026, MEMX is charging industry members a tiny fee of $0.000001 per share to help cover the costs of the Consolidated Audit Trail (CAT) system through the end of the year. This fee supports tracking stock trades better and will show up on invoices starting June 2026. If you’re a broker or part of the trading world, get ready to chip in for smoother market oversight!
2026-09728 — Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Establish Fees for Industry Members Related to Certain Historical Costs of the National Market System Plan Concerning the Consolidated Audit Trail
MEMX is setting new fees for industry members to cover leftover historical costs from the National Market System’s Consolidated Audit Trail, which tracks stock trades. These fees, called Historical CAT Assessment 1A, will collect about $39 million that wasn’t billed before. The change is effective immediately, so affected members should get ready to pay soon!
2026-09736 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
Nasdaq PHLX is setting new fees for industry members to cover leftover historical costs from the National Market System Plan for the Consolidated Audit Trail. These fees, called Historical CAT Assessment 1A, will collect about $39 million for costs before 2022 that weren’t billed before. The fees start right away and will be charged per share traded, helping keep the audit trail running smoothly.
2026-09734 — Self-Regulatory Organizations; Nasdaq Texas, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
Nasdaq Texas is setting new fees to cover leftover historical costs from the National Market System Plan for the Consolidated Audit Trail. Industry members who trade on the exchange will pay these fees starting soon to help cover about $39 million in past expenses not yet billed. This update keeps the system fair and funded without surprises!
Previous / Next Documents
Previous: 2026-08367 — Self-Regulatory Organizations; Nasdaq ISE, LLC; Order Approving a Proposed Rule Change, as Modified by Amendment No. 5, To Amend the Position and Exercise Limits for IBIT Options
Nasdaq ISE just got the green light to raise the limits on how many iShares Bitcoin Trust (IBIT) options traders can hold and exercise. This change affects anyone trading IBIT options, letting them handle bigger positions starting soon, which could mean more trading power and potential profits. The new rules kick in after April 2026, making the IBIT options market more flexible and exciting!
Next: 2026-08369 — Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FINRA Rule 8210 (Provision of Information and Testimony and Inspection and Copying of Books)
FINRA is updating its rule to send information and testimony requests electronically through its FINRA Gateway to member firms. This change affects all FINRA members and makes communication faster and more efficient, with no extra costs involved. The new rule is effective immediately as of April 20, 2026.