Federal Register #SR-CboeEDGX-2026-045

SEC Notice: Proposed Rule Changes for Cboe EDGX and Nasdaq Texas Exchanges

This notice from the Securities and Exchange Commission (SEC) details proposed regulatory changes affecting national securities exchanges: - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - No commercial OEMs or vendors are involved; the notice concerns regulatory rule changes for Cboe EDGX Exchange, Inc. and Nasdaq Texas, LLC - Products/Services Requested: - Proposed amendments to Cboe EDGX Exchange, Inc. Rule 11.8(c) to allow Intermarket Sweep Orders (ISOs) as Non-Displayed Orders - Establishment of price level rules for ISOs - Amendments to Rule 11.6(l)(3) to permit Non-Displayed Orders to re-price to more aggressive prices - Adoption of rules by Nasdaq Texas, LLC to permit listing and trading of certain exchange-traded products (ETPs) dually listed on other national exchanges - Unique or Notable Requirements: - The changes are intended to enhance trading flexibility and execution quality on the exchanges - No procurement of products or services is involved; this is a regulatory action - No specific quantities, part numbers, or contract values are associated with this notice

Description

The Securities and Exchange Commission has filed a proposed rule change by Cboe EDGX Exchange, Inc. to amend Rule 11.8(c) to permit an Intermarket Sweep Order (ISO) to be entered as a non-displayed order and to establish the price level at which the system will consider an ISO available for other orders to be entered. The proposal also includes amendments to Rule 11.6(l)(3) to permit Non-Displayed Orders to re-price to more aggressive prices. This aims to update trading rules to facilitate more efficient order entry and execution.

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