Federal Register #SR-MIAX-2026-22

SEC Notice of Proposed Rule Change: MIAX Rule 519C Amendment Introducing SLAP Feature

This notice concerns a proposed regulatory change by the Securities and Exchange Commission (SEC) regarding the Miami International Securities Exchange, LLC (MIAX): - The proposed rule change amends Exchange Rule 519C, which addresses the mass cancellation of trading interest. - A new Selective Liquidity Auto Purge (SLAP) feature is introduced: - SLAP provides Market Makers with more granular mass cancellation capabilities. - The feature enhances risk management tools, allowing Market Makers greater control over their quotations and risk exposure. - The amendment aims to improve market quality and liquidity by offering more precise risk controls. - No procurement of products or services is involved; this is a regulatory change. - No Original Equipment Manufacturers (OEMs) or vendors are mentioned, as the notice does not relate to acquisition activity.

Description

The Securities and Exchange Commission has issued a notice regarding a proposed rule change by the Miami International Securities Exchange, LLC. The rule change pertains to amendments to Exchange Rule 519C concerning the mass cancellation of trading interest. The proposal introduces a new Selective Liquidity Auto Purge (SLAP) feature to provide more granular mass cancellation functionality, aimed at enhancing risk management tools for Market Makers. The change is intended to improve market quality by allowing Market Makers greater control over their quotations and risk exposure. The rule change has been filed and is effective immediately.

View original listing