Federal Register #SR-MEMX-2026-27

SEC Review of MEMX LLC Proposal to Amend Obvious Error Panel Roster Requirements

This notice concerns a proposed regulatory amendment by MEMX LLC, reviewed by the Securities and Exchange Commission (SEC). - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - MEMX LLC (self-regulatory organization) - Products/Services Requested: - No products or services are being procured; this is a regulatory change proposal - Unique or Notable Requirements: - Proposal to amend Rule 20.6, which governs the nullification and adjustment of options transactions (including obvious errors) - Seeks to eliminate the requirement for a minimum roster of representatives eligible to serve on the Obvious Error Panel - Panel composition requirements (market maker, non-market maker, and Chief Regulatory Officer/designee) will remain unchanged - Aims to reduce administrative burden for MEMX and its Options Members while maintaining fairness and regulatory compliance - No purchase quantities, part numbers, or procurement requirements are included, as this is not a procurement action

Description

The Securities and Exchange Commission (SEC) has issued a notice regarding a proposal by MEMX LLC to amend Rule 20.6 concerning the nullification and adjustment of options transactions, including obvious errors. The amendment seeks to eliminate the requirement for maintaining a minimum roster of representatives eligible to serve on the Obvious Error Panel to reduce administrative burdens. The proposal retains the panel composition requirements and aims to streamline the appeal process while ensuring fairness and regulatory compliance.

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