Federal Register #SR-NYSETEX-2026-29

Proposed Rule Change: NYSE Texas Early Trading for ETP IPO Securities

This notice concerns a proposed regulatory rule change, not a procurement opportunity. - Government buyer: Securities and Exchange Commission (SEC) - Subject: NYSE Texas, Inc. proposes to amend Rule 7.35 (Auctions) - Would allow exchange-traded product (ETP) IPO securities to begin trading in the Early Trading Session at 4:00 a.m. ET - Currently, ETP IPOs can only begin trading at the 9:30 a.m. Core Trading Session - The change would use Early Open Auction processing rules - Purpose: Align NYSE Texas with similar early trading functionalities on Cboe BZX Exchange, Inc. and NYSE Arca, Inc. - No products, OEMs, vendors, or purchase quantities are involved, as this is a regulatory rule change, not a procurement action - Notable: The change is intended to provide issuers and investors with earlier access to trading and liquidity for new ETPs

Description

The NYSE Texas, Inc. filed a proposed rule change to amend Rule 7.35 to introduce an option for exchange-traded products (ETP) eligible to participate in an initial public offering (IPO) auction to elect to commence trading in the NYSE Texas Early Trading Session starting at 4:00 a.m. ET. This change allows ETP IPO Securities to begin trading earlier than the current 9:30 a.m. Core Trading Session start time, following the processing rules of an Early Open Auction. The proposal aligns NYSE Texas with similar functionalities on other exchanges like Cboe BZX and NYSE Arca, aiming to provide issuers and investors with additional trading opportunities and liquidity access.

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