Federal Register #SR-PHLX-2026-41

SEC Notice: Proposed Rule Change for A.M.-Settled NDX Options by Nasdaq PHLX LLC

This notice concerns a proposed regulatory change by the Securities and Exchange Commission (SEC) involving Nasdaq PHLX LLC. - Government buyer: - Securities and Exchange Commission (SEC) - OEM/vendor: - Nasdaq PHLX LLC (primary entity and exchange operator) - Products/services requested: - No products or services are being procured; this is a regulatory action - Key details: - Proposal to allow A.M.-settled options on the Nasdaq-100 Index (NDX) to expire on any Monday, Tuesday, Wednesday, Thursday, or Friday (excluding the third Friday of the month and days coinciding with end-of-month expirations), as well as on the last trading day of the month - Aims to expand hedging and trading opportunities, enhance market liquidity, and improve price discovery - Seeks to clarify exchange rules and support investor protection - No specific product part numbers, quantities, or procurement requirements are included, as this is not a purchasing action

Description

The Securities and Exchange Commission (SEC) has filed a proposed rule change by Nasdaq PHLX LLC to permit the listing of certain A.M.-settled Nasdaq-100 Index (NDX) options. These options would expire on any Monday, Tuesday, Wednesday, Thursday, or Friday (excluding the third Friday of the month or days coinciding with end-of-month expirations) and on the last trading day of the month. The proposal aims to provide investors with expanded hedging tools and greater trading opportunities by allowing A.M.-settled weekly and end-of-month expirations for NDX options. The rule change is intended to enhance market liquidity and protect investors by mitigating order imbalances and improving price discovery.

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