Federal Register #SR-NasdaqTX-2026-017

SEC Notice: Proposed Rule Change to NTX Options Price Improvement Auction

This notice concerns a proposed regulatory change by the Securities and Exchange Commission (SEC) related to options trading rules: - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs/Vendors Mentioned: - Nasdaq Texas, LLC (NTX) - Cboe Exchange, Inc. - Subject of Notice: - Proposed amendment to NTX Options Price Improvement Auction (PRISM) rules - Permits Market Makers assigned to an options class to be solicited for the Initiating Order in a PRISM Auction - Aligns NTX rules with recent changes approved for Cboe Exchange, Inc. - Clarifies handling of Immediate-or-Cancel Orders - Purpose and Impact: - Aims to expand liquidity and improve price improvement opportunities for market participants, especially during volatile market periods - Notable Details: - No procurement of products or services is involved - No quantities, part numbers, or unique technical requirements beyond the rule amendments are specified

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change by Nasdaq Texas, LLC. The rule change pertains to amendments to the NTX Options Price Improvement Auction (PRISM). The amendment permits 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 a Price Improvement Auction. The filing is effective immediately and aims to expand liquidity and improve price improvement opportunities in the auction process.

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