Federal Register #SR-GEMX-2026-14

SEC Notice of Proposed Rule Change by Nasdaq GEMX, LLC to Amend Review of Professional Orders

This notice concerns a proposed rule change by Nasdaq GEMX, LLC, published by the Securities and Exchange Commission (SEC). - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - Nasdaq GEMX, LLC (as the exchange proposing the rule change) - Products/Services Requested: - No procurement of products or services; this is a regulatory notice, not a solicitation - Notable Requirements: - The rule change shortens the review period for Professional Orders from quarterly to monthly - Members must reclassify orders averaging more than 390 per day as Professional orders within five days after each month - Technical amendments are included to harmonize rules with other Nasdaq-affiliated exchanges - No part numbers, quantities, or procurement actions are involved - The SEC is overseeing the rule change process, not purchasing goods or services

Description

The Securities and Exchange Commission published a notice regarding a proposed rule change by Nasdaq GEMX, LLC to amend the review process of Professional Orders. The proposal shortens the review period from quarterly to monthly, requiring members to reclassify orders exceeding 390 per day average as Professional orders within five days after each calendar month. This change aims to ensure more timely and accurate order designation, maintaining market fairness and regulatory compliance. The rule change is effective immediately upon filing and includes technical amendments to harmonize rule structure with other Nasdaq exchanges.

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