Federal Register #SR-NASDAQ-2026-026

Nasdaq Stock Market Proposed Rule Change for Professional Order Review Period

This notice concerns a proposed regulatory change by The Nasdaq Stock Market LLC, not a procurement opportunity. - Government Buyer: - Securities and Exchange Commission (SEC) - Subject: Proposed rule change to the review and designation period for Professional orders on the Nasdaq Options Market - Key Details: - The review period for Professional orders will shift from quarterly to monthly - Participants must designate orders for customers averaging more than 390 orders per day as Professional for the following month - The amendment aims to improve the timeliness and accuracy of order representation - The change aligns Nasdaq Options Market rules with other Nasdaq affiliated exchanges - No products, services, OEMs, or vendors are being procured or awarded; this is a regulatory action affecting market participants

Description

The Nasdaq Stock Market LLC filed a proposed rule change with the Securities and Exchange Commission to amend the review process of Professional orders. The amendment shortens the review and designation period from quarterly to monthly, requiring Participants to represent orders for any customer averaging more than 390 orders per day during any calendar month as Professional orders for the next calendar month. This change aims to ensure more timely and accurate order representation without imposing additional burdens on Participants. The proposal also includes technical amendments to harmonize rule structures with other Nasdaq affiliated exchanges.

View original listing