Opportunity
Federal Register #SR-MIAX-2026-08
SEC and STB Announce Regulatory and Ownership Changes Affecting Market Risk Management and Rail Operations
Buyer
Securities and Exchange Commission
Posted
July 10, 2026
Identifier
SR-MIAX-2026-08
NAICS
926120, 523210
This notice details regulatory actions by the Securities and Exchange Commission (SEC) and the Surface Transportation Board (STB): - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - Surface Transportation Board (STB) - Regulatory Actions: - SEC is reviewing a proposed rule change from Miami International Securities Exchange, LLC (MIAX) to amend Rule 612 (Aggregate Risk Manager, ARM) - Introduces a new Origin Multiplier for calculating market maker option percentages - Allows market makers to tailor risk protection settings based on the origin of the contra party (e.g., Priority Customer, Firm, Broker-Dealer, Market Maker, Non-Member Market Maker, Non-Priority Customer) - Origin Multiplier values range from 0 to 10, adjustable in 0.1 increments, with a default of 1 - Aims to improve risk management and liquidity for market makers - STB approved Avory B. Beggs' acquisition of controlling interest in Midwest & Bluegrass Rail, LLC - Midwest & Bluegrass Rail, LLC manages two Class III rail carriers: TransKentucky Transportation Railroad, Inc. and Youngstown & Southeastern Railroad, LLC - No OEMs or commercial vendors are involved, as these are regulatory and ownership changes, not procurement actions - No products or services are being purchased or requested
Description
The Securities and Exchange Commission published a notice regarding a proposed rule change by Miami International Securities Exchange, LLC. The proposal seeks to amend Rule 612, the Aggregate Risk Manager (ARM), by adopting a new Origin Multiplier to be used in calculating a market maker's option percentage. This change aims to enhance ARM functionality, allowing market makers to better manage risk by tailoring their risk protection settings. The rule change is effective immediately upon filing and is intended to protect investors and the public interest.