Federal Register #SR-MRX-2026-16

SEC Notice of Proposed Rule Change by Nasdaq MRX, LLC to Amend Auction Mechanisms

This notice announces a proposed rule change submitted by Nasdaq MRX, LLC to the Securities and Exchange Commission (SEC) regarding auction mechanisms for options trading. - Government Buyer: - Securities and Exchange Commission (SEC) - Proposing Entity: - Nasdaq MRX, LLC - Scope of Rule Change: - Amendments to the Facilitation Mechanism, Solicited Order Mechanism (SOM), and Price Improvement Mechanism (PIM) - Proposal would allow Market Makers assigned to an options class to be solicited for initiating orders in these mechanisms - Intended to enhance price improvement opportunities and provide primary liquidity providers with more ways to participate in paired auctions - No procurement of products or services is involved - No part numbers, quantities, or OEMs are listed - This is a regulatory notice, not a solicitation for goods or services

Description

The Securities and Exchange Commission (SEC) has published a notice regarding a proposed rule change by Nasdaq MRX, LLC. The rule change involves amendments to various auction mechanisms including the Facilitation Mechanism, Solicited Order Mechanism (SOM), and Price Improvement Mechanism (PIM). The proposal aims to permit orders for the accounts of Market Makers assigned to the options class to be solicited for the initiating order submitted for execution against an agency order into these mechanisms. This change is intended to enhance price improvement opportunities and provide primary liquidity providers with additional ways to participate in paired auctions.

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