Federal Register #SR-PHLX-2026-21

SEC Review of Nasdaq PHLX Rule Change for Texas Stock Exchange Data Feeds

This notice concerns a proposed regulatory change by Nasdaq PHLX LLC, reviewed by the Securities and Exchange Commission (SEC): - Government Buyer: - Securities and Exchange Commission (SEC) - Submitting Organization: - Nasdaq PHLX LLC - Key Details: - Amends Equity 4, Rule 3304 to update data feed sources for the new Texas Stock Exchange (TXSE) - Establishes the TXSE direct feed as the primary source of quotation data - Designates CQS/UQDF as the secondary source - Updates the names of two exchanges: Nasdaq Texas and NYSE Texas - Notable Requirements: - Focuses on enhancing transparency and regulatory compliance for market data feeds - No procurement of products or services is involved; this is a regulatory action - OEMs and Vendors: - No OEMs or vendors are referenced, as this is not a procurement action

Description

The Securities and Exchange Commission published a notice regarding a proposed rule change by Nasdaq PHLX LLC to amend Equity 4, Rule 3304. The amendment establishes a primary and secondary source of quotation data for a new market center, specifically adding a direct feed from the Texas Stock Exchange as the primary source and CQS/UQDF as the secondary source. The rule change also updates the names of two recently renamed exchanges. This change is effective immediately to enhance transparency and regulatory compliance.

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