Federal Register #SR-TXSE-2026-025

TXSE Proposed Rule Change for Opening and Closing Auctions in UTP Securities

This notice from the Securities and Exchange Commission (SEC) concerns a proposed rule change by Texas Stock Exchange LLC (TXSE) regarding opening and closing auctions in UTP (Unlisted Trading Privileges) securities. - Regulatory context: - TXSE seeks to amend its rules to permit opening and closing auctions for designated UTP securities, in addition to TXSE-listed securities. - The official opening and closing prices for UTP securities will remain those established by the primary listing markets. - No procurement activity: - No products, services, OEMs, or vendors are requested or mentioned. - The notice is not a solicitation or contract opportunity. - Market impact: - The rule change aims to enhance market resiliency and competition. - Provides an additional venue for price discovery and single-price executions in designated UTP securities.

Description

The Securities and Exchange Commission has filed a notice regarding a proposed rule change by Texas Stock Exchange LLC to permit the exchange to conduct opening and closing auctions in UTP securities designated by the exchange. The rule change allows the Exchange to conduct its Opening Auction at 9:30 a.m. ET and Closing Auction at 4:00 p.m. ET in UTP securities designated by the Exchange. The proposal includes amendments to existing rules to accommodate these auctions and preserve the primary listing markets' official opening and closing prices. The change is effective immediately to enhance market resiliency and competition.

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