Federal Register #SR-PEARL-2026-31

SEC Notice: MIAX PEARL, LLC Proposed Rule Change for Priority Customer Order Review

This notice concerns a proposed regulatory change, not a procurement opportunity. - Government buyer: Securities and Exchange Commission (SEC) - Organization involved: MIAX PEARL, LLC (self-regulatory organization) - No OEMs, vendors, or commercial products/services are being requested - The rule change amends the review process for Priority Customer Orders: - Shifts review frequency from quarterly to monthly - Members must update order designations within five days after each month - Aims to improve accuracy and timeliness of order classification, impacting transaction fees and rebates - No purchase quantities, part numbers, or unique procurement requirements are present - This is a regulatory process update, not a solicitation for goods or services

Description

This notice announces a proposed rule change filed by MIAX PEARL, LLC to amend the quarterly review process of Priority Customer Orders to a monthly review. The change requires Members to conduct a monthly review and make any necessary changes to the representation of orders within five days after the end of each calendar month, instead of quarterly. The purpose is to ensure more timely and accurate designation of Priority Customer Orders, which affects transaction fees and rebates. The rule change is effective immediately upon filing and aims to promote fair competition and protect investors.

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