Federal Register #SR-ISE-2026-43

SEC Notice of Proposed Rule Change by Nasdaq ISE, LLC to Amend Market Maker Quotation Obligations

This notice from the Securities and Exchange Commission (SEC) concerns a proposed rule change by Nasdaq ISE, LLC regarding Market Maker Quotation Obligations. - Regulatory context: - The rule change amends Options 2, Section 5, focusing on how quoting obligations are tracked for Primary Market Makers (PMMs) and Preferred Market Makers within the same member organization. - Key proposal details: - Aggregates quoting activity for PMMs and Preferred Market Makers, who have similar obligations and preferential participation entitlements. - Eliminates duplicative compliance tracking while maintaining the 90% continuous quoting threshold. - Does not alter quoting obligations for other Market Makers. - No procurement activity: - No products, services, OEMs, or vendors are requested or mentioned. - Public engagement: - The SEC invites public comments on the proposed rule change.

Description

The Nasdaq ISE, LLC proposes to amend Options 2, Section 5, Market Maker Quotations to modify how quoting obligations are aggregated and counted for Primary Market Makers (PMMs) and Preferred Market Makers associated with the same member. The amendment aims to aggregate quoting activity for these two categories, which have similar quoting obligations and preferential participation entitlements, to eliminate duplicative compliance tracking while maintaining the 90% continuous quoting threshold. The proposal does not amend quoting obligations for Market Makers who are not PMMs or Preferred Market Makers. The rule change is effective immediately and does not impose undue burdens on competition.

View original listing