Federal Register #SR-NYSE-2026-30

NYSE Proposed Rule Change to Amend Rule 7.31 on Orders and Modifiers

This notice announces a proposed rule change by the New York Stock Exchange (NYSE) regarding its Rule 7.31, which covers Orders and Modifiers on the Exchange. - The Securities and Exchange Commission (SEC) is seeking public comment on the proposed amendments. - Key changes include: - Routable Limit Orders will now function as Inside Limit Orders unless otherwise specified. - All Discretionary Orders (D Orders) will be non-routable. - The intent is to improve execution opportunities for market participants and streamline Exchange rules by removing underutilized functionalities. - No OEMs, vendors, products, or services are mentioned, as this is a regulatory notice rather than a procurement opportunity. - No purchase quantities, part numbers, or unique technical requirements are provided.

Description

The New York Stock Exchange LLC (NYSE) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to amend Rule 7.31 concerning Orders and Modifiers. The amendments include changing the operation of routable Limit Orders to function as Inside Limit Orders unless otherwise specified, and specifying that all Discretionary Orders (D Orders) will be non-routable. The changes aim to improve execution opportunities and streamline Exchange rules by removing underutilized functionalities. The proposed rule change is effective immediately and comments are solicited by July 23, 2026.

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