Federal Register #SR-MRX-2026-15

SEC Notice: Nasdaq MRX Rule Change for Professional Order Review

This notice concerns a proposed rule change by Nasdaq MRX, LLC, published by the Securities and Exchange Commission (SEC): - Government Buyer: - Securities and Exchange Commission (SEC) - Address: 100 F Street NE, Washington, DC 205491090 - OEM/Vendor Mentioned: - Nasdaq MRX, LLC (exchange operator) - Key Details of the Rule Change: - Amends the process for reviewing Professional Orders on the Nasdaq MRX exchange - Shortens the review period from quarterly to monthly - Members must designate orders as Professional if a customer averages more than 390 orders per day in any calendar month (previously, this was measured quarterly) - Aims to ensure more timely and accurate designation of Professional orders - Includes a technical amendment to harmonize the rule structure with other Nasdaq affiliated exchanges - Notable Requirements: - No products or services are being procured; this is a regulatory notice - The change is intended to maintain market fairness and regulatory compliance - No contract value, product, or service line items are associated with this notice

Description

The Securities and Exchange Commission published a notice regarding a proposed rule change by Nasdaq MRX, LLC to amend the quarterly review process of Professional Orders. The proposal shortens the review period from quarterly to monthly, requiring members to represent orders as Professional orders if a customer averages more than 390 orders per day during any calendar month. This change aims to ensure more timely and accurate designation of Professional orders, maintaining market fairness and regulatory compliance. The rule change is effective immediately and includes a technical amendment to harmonize rule structure with other Nasdaq affiliated exchanges.

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