Federal Register #SR-TXSE-2026-006

SEC Notice: Proposed Rule Change by Texas Stock Exchange LLC for Auction Procedures

This notice concerns a proposed rule change submitted by Texas Stock Exchange LLC (TXSE) and published by the Securities and Exchange Commission (SEC): - The proposal seeks to amend TXSE's Opening and Closing Auction procedures - Modifies late limit order types (Late-Limit-On-Close and Late-Limit-On-Open) - Adjusts order submission times for auctions - Changes the information disseminated prior to auctions - Introduces new constraints based on recent transaction and quotation-based calculations, referred to as Participation Bands - Adds additional tiebreaker steps to the auction process - No products, services, OEMs, or vendors are involved, as this is a regulatory notice - The notice is published by the SEC and does not represent a procurement opportunity

Description

This notice pertains to the Securities and Exchange Commission's filing regarding amendments to the rules of the Texas Stock Exchange LLC, specifically concerning its opening and closing auctions. The proposed changes aim to enhance the price discovery process and make the exchange's auction process more robust by modifying late limit order types and adjusting order submission times and auction information dissemination. The amendments include changes to Late-Limit-On-Close (LLOC) and Late-Limit-On-Open (LLOO) orders, constraints by recent transaction- and quotation-based calculations, and additional tiebreaker steps in the auction process.

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