Federal Register #SR-NASDAQ-2026-067

SEC Notice: Nasdaq Rule Change for Night Session Quotation Data Source

This notice from the Securities and Exchange Commission (SEC) concerns a proposed rule change by The Nasdaq Stock Market LLC. - Regulatory update: Amendment to Exchange Rule 4759 - Night Session trading: Nasdaq will use CQS/UQDF as the sole source of quotation data - Applies to order handling, routing, execution, and regulatory compliance - No procurement of products or services - Only OEM/vendor mentioned: Nasdaq - No purchase quantities, part numbers, or technical procurement requirements - Change aims to support extended trading hours, reduce operational risks, and promote transparency

Description

The Nasdaq Stock Market LLC has filed a proposed rule change to amend Exchange Rule 4759 regarding the sources of data used during the Night Session. The amendment specifies that during the Night Session, the Exchange will use CQS/UQDF as the sole source of quotation data for order handling, routing, execution, and regulatory compliance processes. This change is intended to support the extended trading hours of the Night Session while reducing operational risk to proprietary data feeds used during the Day Session. The rule change is effective immediately and aims to promote transparency and protect investors and the public interest.

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