Federal Register #SR-SAPPHIRE-2026-19

SEC Notice: MIAX Sapphire, LLC Proposed Rule Change to Exchange Rule 2040 (Qualified Floor Orders)

This notice concerns a proposed regulatory change by MIAX Sapphire, LLC, as published by the Securities and Exchange Commission (SEC): - The SEC is reviewing a proposed amendment to Exchange Rule 2040 (Qualified Floor Orders) submitted by MIAX Sapphire, LLC - The amendment would allow Floor Brokers to execute specific types of Crossing Orders—including Customer Cross Orders, Complex Customer Cross Orders, Qualified Contingent Cross Orders, and Complex Qualified Contingent Cross Orders—on the Trading Floor immediately, without prior announcement to the trading crowd, if certain requirements are met - The intent is to harmonize procedures between the electronic market and the physical Trading Floor - No products or services are being procured; this is a regulatory notice, not a procurement opportunity - MIAX Sapphire, LLC is the only OEM/vendor referenced - The Trading Floor in Miami, Florida, is the primary location affected by this rule change - The SEC's office in Washington, DC, is the contracting office for this notice

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change by MIAX Sapphire, LLC. The change involves amending Exchange Rule 2040 concerning Qualified Floor Orders. The proposal permits Floor Brokers to execute certain Crossing Orders on the Trading Floor immediately without announcement to the trading crowd, provided specific requirements are met. The rule change aims to align and harmonize rules governing the electronic market and the Trading Floor.

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