Federal Register #SR-MIAX-2026-41

SEC notice on MIAX’s proposed PRIME and cPRIME auction response processing changes

The SEC notice describes MIAX’s proposed changes to response processing in its PRIME and cPRIME auctions. - Government entity: Securities and Exchange Commission (SEC). - Organization named: Miami International Securities Exchange, LLC (MIAX), the exchange proposing the rule change. - Proposed change: Amend Exchange Rule 515A so MIAX processes auction responses priced worse than the initiating price instead of rejecting them upon submission. - Auction handling: At the auction’s conclusion, MIAX would cancel responses that cannot participate. - Procurement status: This is a regulatory notice, not a procurement opportunity; no products or services, quantities, or part numbers are requested.

Description

Miami International Securities Exchange, LLC proposes to amend Exchange Rule 515A concerning Request for Response (RFR) messages in its MIAX Price Improvement Mechanism (PRIME) and PRIME Solicitation Mechanism, including cPRIME auctions. The change would stop rejecting auction responses priced worse than the initiating price when they are submitted and instead process them, then cancel responses that could not participate at the auction’s conclusion. The Securities and Exchange Commission published notice of the proposed rule change and states it became effective upon filing, with the 30-day operative delay waived. Comments are invited by November 6, 2026.

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