Federal Register #SR-MRX-2026-35

SEC Notice of Proposed Rule Change by Nasdaq MRX, LLC to Amend Appointment of Market Makers

This SEC notice announces a proposed rule change by Nasdaq MRX, LLC regarding the appointment of Primary Market Makers (PMMs) for options classes. - Regulatory Context: - The rule change amends Options 2, Section 3, shifting from a mandatory PMM appointment for each options class to a permissive standard. - The exchange may appoint a PMM based on market conditions and the availability of qualified applicants. - PMM obligations and privileges remain unchanged once appointed. - Competitive Market Makers (CMMs) will continue to provide liquidity if no PMM is appointed. - Reference to Similar Frameworks: - The notice cites comparable standards at Nasdaq Phlx LLC and The Nasdaq Options Market LLC. - No Procurement Activity: - No products, part numbers, or purchase quantities are mentioned. - No OEMs or vendors are involved beyond the self-regulatory organizations referenced. - Focused on regulatory changes, not procurement or acquisition of goods/services.

Description

The Securities and Exchange Commission published a notice regarding a proposed rule change by Nasdaq MRX, LLC to amend Options 2, Section 3, concerning the appointment of Primary Market Makers (PMMs). The amendment changes the requirement from a mandatory appointment of a PMM for each options class to a permissive standard, allowing the Exchange to decide based on market conditions and applicant availability. The proposal maintains the obligations and privileges of PMMs once appointed and highlights that Competitive Market Makers (CMMs) will continue to provide liquidity in the absence of a PMM. The change aims to enhance administrative flexibility while preserving market quality protections.

View original listing