Opportunity
Federal Register #SR-NASDAQ-2026-039
SEC Notice: Nasdaq Options Market Rule Change for Technology Migration
Buyer
Securities and Exchange Commission
Posted
May 21, 2026
Identifier
SR-NASDAQ-2026-039
NAICS
523210
This notice details a proposed rule change by The Nasdaq Stock Market LLC, published by the Securities and Exchange Commission (SEC), regarding the Nasdaq Options Market (NOM) technology migration. - Government Buyer: - Securities and Exchange Commission (SEC) - The Nasdaq Stock Market LLC (as the regulated entity) - OEMs and Vendors: - No OEMs or commercial vendors are named; the notice concerns regulatory and operational changes, not procurement of goods or services. - Products/Services Requested: - No products, part numbers, or service quantities are requested; the notice is not a solicitation for procurement. - Notable Requirements and Details: - The rule change aims to harmonize NOM's rules with those of other Nasdaq-affiliated options exchanges (Nasdaq BX, Nasdaq ISE, Nasdaq GEMX, Nasdaq MRX, Nasdaq Phlx). - Enhancements include improved performance, scalability, and robustness for NOM's technology platform. - Amendments address definitions, market maker and lead market maker obligations, order types, risk protections, trading sessions, and protocols. - New functionalities include Lead Market Maker appointments, updated order entry protocols, and revised risk protections. - The notice is focused on regulatory and operational updates, not on the acquisition of technology or services.
Description
The Nasdaq Stock Market LLC has filed a proposed rule change to amend various rules of the Nasdaq Options Market LLC (NOM) in connection with a technology migration to an enhanced Nasdaq functionality. The amendments include changes to definitions, market maker obligations, order types, risk protections, and trading sessions to align with Nasdaq affiliated options exchanges. The proposal aims to adopt new functionalities, harmonize rules, and improve market operations, with the technology migration commencing on July 27, 2026. The filing is for immediate effectiveness and includes detailed rule amendments across multiple sections of NOM's rules.