Federal Register #SR-NYSE-2026-46

SEC Notice: NYSE Proposed Rule Change to Extend Clearly Erroneous Execution Reviews to Overnight Trading

This notice concerns a proposed regulatory change by the Securities and Exchange Commission (SEC) involving the New York Stock Exchange (NYSE): - The NYSE proposes to amend Rule 7.10, which governs the review of clearly erroneous executions. - The amendment extends the scope of reviews to include Overnight Protected Hours, in addition to the Core Trading Session. - This change is prompted by the approval of Overnight Protected Bands for 23/5 Trading, enabling trading 23 hours a day, five days a week. - Updates to definitions and numerical guidelines are included to ensure consistent standards for trade reviews during both regular and overnight hours. - The NYSE is the primary entity affected by and responsible for implementing these changes. - The LULD Plan (Limit Up-Limit Down Plan) is referenced as a key mechanism in the rule. - No products, services, or procurement actions are involved; this is a regulatory update impacting trading rules and procedures.

Description

The Securities and Exchange Commission (SEC) has filed a proposed rule change by the New York Stock Exchange LLC (NYSE) to amend Rule 7.10 regarding clearly erroneous executions. The amendment aims to extend the restrictions on clearly erroneous review to include Overnight Protected Hours in addition to the Core Trading Session, consistent with the Commission's approval of Overnight Protected Bands for 23/5 Trading. The proposal includes changes to definitions and numerical guidelines to apply during these extended hours, enhancing transparency and consistency in trade review processes. The rule change is scheduled to become operative at the commencement of 23/5 Trading on December 6, 2026.

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