Federal Register #SR-NasdaqTX-2026-012

SEC Notice: Nasdaq Texas, LLC Proposal to Amend Anti-Internalization Functionality and Extend CORE FIX Protocol Implementation

This notice from the Securities and Exchange Commission (SEC) addresses a proposed rule change by Nasdaq Texas, LLC regarding exchange trading protocols: - Government Buyer: - Securities and Exchange Commission (SEC) - OEM/Vendor: - Nasdaq Texas, LLC (highlighted as the only OEM/vendor) - Requested Products/Services: - No physical products or purchase quantities are requested - Proposal concerns regulatory amendments to exchange trading protocols - Key changes include: - Extension of Port-Level Anti-Internalization Functionality to users of the FIX order entry protocol - Clarification of availability for FLITE protocol users - Extension of implementation date for the proprietary CORE FIX Order Entry Protocol - Unique/Notable Requirements: - Focus on improving trading efficiency and transparency on the Nasdaq Texas platform - SEC is soliciting public comments on the proposed rule change - No procurement of goods or services; this is a regulatory notice impacting market participants - Place of Performance/Delivery: - SEC headquarters in Washington, DC is the relevant federal office for this notice

Description

The Securities and Exchange Commission has issued a notice regarding a proposal by Nasdaq Texas, LLC to amend its exchange's anti-internalization functionality in Equity 4, Rule 4757. The amendment extends the Port-Level Anti-Internalization Functionality to market participants using the FIX order entry protocol and clarifies its availability to those using the FLITE protocol. Additionally, the proposal extends the implementation date of the CORE FIX Order Entry Protocol to before the end of 2026, aiming to enhance trading efficiency and transparency on the Nasdaq Texas platform.

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