Federal Register #SR-NYSETEX-2026-27

SEC Notice of Proposed Rule Change by NYSE Texas, Inc. on Trade Report Treatment

This notice from the Securities and Exchange Commission (SEC) concerns a proposed rule change by NYSE Texas, Inc. regarding the treatment of trade reports that do not reflect prevailing market prices. - Regulatory Context: - NYSE Texas, Inc. seeks to implement a policy for identifying and marking trade reports with prices inconsistent with the market. - The Aberrant Report Indicator will be appended to such trades, signaling to vendors and market participants that these trades should be excluded from high, low, or last sale price calculations. - The underlying trade remains valid and is not invalidated by the indicator. - Determination Factors: - Factors for applying the indicator include material news, suspicious trading activity, system malfunctions, and significant price deviations. - Alignment with Industry Standards: - The policy is consistent with similar practices at other national securities exchanges, such as NYSE, Nasdaq, and Investors Exchange LLC (IEX). - No Procurement Activity: - This is a regulatory notice; no products, services, or vendors are being requested or procured.

Description

This notice announces that NYSE Texas, Inc. has filed a proposed rule change with the Securities and Exchange Commission to adopt a policy regarding the treatment of trade reports that are inconsistent with the prevailing market. The policy involves appending an Aberrant Report Indicator to such trade reports to signal that the trade price does not accurately reflect the market, without invalidating the trade. The rule change aims to enhance transparency and ensure accurate market pricing metrics by excluding aberrant trades from high, low, or last sale price calculations.

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