NYSE American proposes rule to list binary KPI options
The proposal would bind NYSE American and issuers whose KPIs are reported in SEC filings, pending comment period after its Sep 15 2026 filing.
On September 3, 2026 NYSE American LLC filed a proposed rule change with the Securities and Exchange Commission, identified as Release No. 34-106367 and File No. SR-NYSEAMER-2026-82. The Commission published the notice on September 15, 2026 to solicit comments.
The amendment would permit the listing of binary options overlying key performance indicators (KPIs) reported by certain issuers of stock. Binary KPI options are European-style, cash-settled contracts whose payout at expiration depends on whether the reported KPI meets or exceeds a pre-specified strike level.
To implement the change, the Exchange proposes to adopt Section 20 (Binary KPI Options) and to add new Rule 900KPI and Rule 900KPI(b). Rule 900KPI(b) defines a "binary KPI option," a "call binary KPI option," a "put binary KPI option," "exercise price," "settlement value," and "KPI" as a financial or operating metric disclosed in an issuer's Form 8-K, Form 10-Q, or Form 10-K filing.
The filing also defines "Clearing Corporation" as the registered clearing agency designated by the Exchange, which may be the Options Clearing Corporation or another agency, to clear binary KPI options.
The proposed rule change is available on the Exchange's website at www.nyse.com and at its principal office. Interested parties may submit comments during the comment period announced in the notice.
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