Federal Register #SR-NYSEAMER-2026-52

SEC Notice: Proposed Amendment to NYSE American LLC Rule 7.31E (Orders and Modifiers)

This notice concerns a proposed regulatory change by NYSE American LLC, as published by the Securities and Exchange Commission (SEC): - Government buyer: Securities and Exchange Commission (SEC) - No OEMs or commercial vendors are involved, as this is a rule change, not a procurement - Subject: Amendment to NYSE American LLC Rule 7.31E (Orders and Modifiers) - The proposed change will make routable Limit Orders function as Inside Limit Orders unless otherwise specified - The intent is to improve execution prices for market participants by slowing the routing of orders to away markets at multiple prices - Similar amendments are proposed for the New York Stock Exchange LLC (NYSE) Rule 7.31, affecting Limit Orders and Discretionary Orders - No products, part numbers, or quantities are requested - No unique technical or performance requirements, as this is a regulatory update - The notice invites public comments on the proposed rule change - No contract value, period of performance, or procurement details are applicable

Description

This notice pertains to the NYSE American LLC's filing of a proposed change to amend Rule 7.31E, Orders and Modifiers. The proposed amendment changes the operation of routable Limit Orders to function as Inside Limit Orders unless otherwise specified. The change aims to improve execution prices by assessing away market interest on a price-by-price basis, slowing down routing to away markets at multiple prices. The Exchange believes this will promote just and equitable principles of trade and protect investors and the public interest.

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