# Federal Register #4-631

SEC temporarily changes the overnight Consolidated Price calculation reference time

**Buyer:** Securities and Exchange Commission
**Posted:** October 13, 2026
**Identifier:** 4-631

This SEC notice concerns a temporary change to overnight price calculations under the National Market System Plan, not a procurement opportunity.
- **Government agency:** Securities and Exchange Commission (SEC).
- **Plan filing:** Nasdaq, Inc. filed the Twenty-Ninth Amendment on behalf of the Plan Participants.
- **Named Plan Participants:** 24X National Exchange LLC; Cboe BZX Exchange, Inc.; Cboe BYX Exchange, Inc.; Cboe EDGA Exchange, Inc.; Cboe EDGX Exchange, Inc.; Financial Industry Regulatory Authority, Inc.; Investors Exchange LLC; Long-Term Stock Exchange, Inc.; MEMX LLC; MIAX PEARL, LLC; Nasdaq PHLX LLC; Nasdaq Texas LLC; New York Stock Exchange LLC; NYSE American LLC; NYSE Arca, Inc.; NYSE National, Inc.; NYSE Texas, Inc.; Texas Stock Exchange LLC; and The Nasdaq Stock Market LLC.
- **Proposed change:** Move the reference time for calculating the Consolidated Price from 7:45 p.m. to 7:30 p.m. Eastern Time. The change is intended to support calculation and distribution of overnight price bands and give alternative trading systems time to prepare for overnight sessions.
- **Implementation:** The SEC temporarily put the amendment into effect for no more than 120 days and invited public comments. The Participants anticipated that it would become operative after required systems changes.
- **Procurement status:** No products or services are being purchased. No supplier OEMs or vendors are identified; Nasdaq, Inc. is the filer, not a stated supplier.

### Description

The Securities and Exchange Commission notice concerns the proposed Twenty-Ninth Amendment to the National Market System Plan to Address Extraordinary Market Volatility. The amendment would change the time used to calculate the Consolidated Price from 7:45 p.m. to 7:30 p.m. Eastern Time, supporting overnight price protections and trading. The Commission put the amendment into effect summarily on a temporary basis, not to exceed 120 days, and solicited comments from interested persons. The Participants anticipate an operative date of December 6, 2026, subject to required systems changes.

[View original listing](https://www.federalregister.gov/documents/2026/10/13/2026-20799/joint-industry-plan-notice-of-filing-and-order-of-summary-effectiveness-on-a-temporary-basis-not-to)