Federal Register #SR-NasdaqTX-2026-049

Nasdaq Texas proposal to revise investor information requirements for UTP derivative securities

The Securities and Exchange Commission notice describes a Nasdaq Texas rule change for information provided to investors in certain securities; it is not a procurement opportunity. - Government agency: Securities and Exchange Commission (SEC), which published the notice; no purchasing agency or sub-agency is identified. - Organizations named: Nasdaq Texas, LLC proposed the change; Cboe BZX Exchange, Inc. is mentioned as having filed a similar proposal. - Rule change: Removes Nasdaq Texas’s requirement to distribute a duplicative information circular before trading begins in each unlisted trading privileges (UTP) derivative security. It also updates cross-references, renumbers provisions, and makes technical revisions. - Investor information requirement: A written description is required only when the listing exchange requires one, and must be provided no later than delivery of the purchaser’s first transaction confirmation. - Procurement items: No products, services, quantities, or part numbers are requested. The rule change became effective upon filing.

Description

Nasdaq Texas, LLC proposes amendments to Rule 5740 concerning information circular requirements for unlisted trading privileges (UTP) derivative securities. The proposal removes the requirement for the Exchange to distribute a duplicative information circular before trading begins, while adding or updating rule cross-references. It also revises when and how a required written description must be provided, and renumbers provisions and makes technical changes. The notice states that the proposed rule change became effective upon filing.

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