# Federal Register #SR-NASDAQ-2026-084

SEC notice on Nasdaq’s proposed overnight-trading clearing requirements

**Buyer:** Securities and Exchange Commission
**Posted:** October 05, 2026
**Identifier:** SR-NASDAQ-2026-084

The SEC notice concerns a proposed Nasdaq rule change for clearing and settlement of trades during overnight trading.
- **Government agency:** Securities and Exchange Commission (SEC).
- **Rule-change filer:** The Nasdaq Stock Market LLC.
- **Proposed requirement:** A Member using a designated Clearing Member to clear its Night Session trades would need written confirmation that the Clearing Member accepts responsibility for clearing and settlement. Confirmation could be an authorization, guarantee, consent, or another agreement acceptable to Nasdaq.
- **Purpose and scope:** Nasdaq says the change would clarify clearing responsibility, support risk management, and help prepare for 23-5 trading. It would not change clearing relationships for other trading sessions.
- **Procurement status:** This is a regulatory notice, not a procurement opportunity. No products, services, quantities, part numbers, OEMs, or procurement vendors are identified.

### Description

The Nasdaq Stock Market LLC proposes to amend Exchange Rule Equity 2, Section 9 concerning clearing and settlement for Night Session trading. Under the proposed change, when a Member uses another Member that is a registered clearing agency member to clear Night Session transactions, the designated Clearing Member must provide written confirmation that it accepts responsibility for clearing and settling those trades. The confirmation may be made through a letter of authorization, guarantee, consent, or another agreement acceptable to the Exchange. The notice solicits comments on the proposed rule change; the filing states that the change became effective upon filing.

[View original listing](https://www.federalregister.gov/documents/2026/10/05/2026-20297/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate)