Federal Register #SR-NYSENAT-2026-19

SEC Notice: NYSE National, Inc. Rule 7.31 Amendment (No Procurement)

This opportunity involves a procurement by the Securities and Exchange Commission (SEC) related to a proposed rule change by NYSE National, Inc. - Government Buyer: - Securities and Exchange Commission (SEC) - No OEMs or vendors are involved, as this is a regulatory notice, not a product or service procurement - No products or services are being requested - Notable requirement: - The rule change amends NYSE National, Inc. Rule 7.31, altering the operation of routable Limit Orders to function as Inside Limit Orders unless otherwise specified - The change is designed to improve execution prices and trading opportunities by routing orders to the best displayed price and waiting for National Best Bid and Offer (NBBO) updates before further routing - No contract value, period of performance, or line items are applicable, as this is not a procurement action

Description

The Securities and Exchange Commission has published a notice regarding NYSE National, Inc.'s proposed rule change to amend Rule 7.31 concerning orders and modifiers. The proposed change modifies the operation of routable Limit Orders to function as Inside Limit Orders, aiming to enhance trading opportunities and improve execution prices for market participants. The rule change has been filed and is effective immediately, with the Exchange planning to implement the change before the end of the fourth quarter of 2026. The proposal does not impose significant burdens on competition and seeks to perfect the mechanisms of a free and open market.

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