Americas Reg Desk

Wednesday, 2026-08-05 · covering the last 24h

United States

Nasdaq ISE and Nasdaq PHLX drop the 50-ETF cap on cash-settled FLEX ETF options. Both exchanges filed near-identical, immediately-effective rule changes to Options 3A that let a newly FLEX-eligible ETF qualify for cash settlement off one month of trading statistics instead of waiting for the exchange's semi-annual review, replacing the existing hard 50-ETF cash-settlement cap with a tiered eligibility framework. It widens the set of ETFs institutional desks can use FLEX options on for customised hedging and exposure. Nasdaq ISE filing · Nasdaq PHLX filing

Cboe Exchange also filed two routine, immediately-effective options fee-schedule updates (transaction fees, Floor Broker permit fees and Market-Maker Tier Appointment fees for SPX/VIX/RUT); comments due 26 August. Housekeeping, not structural. No update on the pending Cboe Rule 8.23 disruptive-trading review (now to Sept 30) or the NYSE American extended-hours options filing.

Canada

No material new items today from CSA, OSC, CIRO or TMX.

Latin America

No material new market-structure items from B3/CVM, BMV/BIVA/CNBV, or CMF/CNV in the last 24 hours.

Informational only — summaries of public regulatory sources; not advice.