Date Filed: May 22, 2024
Description: Proposed rule change to implement the Warrants Program pursuant to which warrants representing the right to acquire equity in the Exchange’s parent holding company upon vesting would be issued to participants on MEMX Options who also participate in the Warrants Program (“Participants”), in exchange for payment of the initial prepayment fee (“Prepayment Fee”) and the achievement of certain liquidity volume thresholds on the Exchange’s options platform (“MEMX Options”) over a 24-month period (the “Term”). The Warrants Program commenced on May 1, 2024 (the “Effective Date”) and will end on May 1, 2026. The purpose of the Warrants Program is to promote the long-term interests of MEMX by providing incentives designed to encourage MEMX market participants to contribute to the growth and success of MEMX Options via actively providing and taking liquidity on the MEMX Options market.