Federal Register #SR-Phlx-2026-63

SEC notice on Nasdaq PHLX proposed changes to UTP exchange-traded product information requirements

The SEC notice concerns proposed Nasdaq PHLX rule changes for information provided to customers trading UTP exchange-traded products. - Government body: Securities and Exchange Commission (SEC). - Filing entity: Nasdaq PHLX LLC, proposing changes to Equity 8A. - Proposed changes: Remove a duplicative pre-trading information-circular requirement; explicitly reference existing suitability and customer-disclosure rules; revise when a written product description must be provided to align with the listing exchange’s requirements; and update numbering and obsolete rule references. - Other named organization: Cboe BZX Exchange, Inc., cited as having filed a similar proposal. - Procurement status: This is a regulatory notice inviting public comments, not a request to purchase products or services. No products, quantities, or part numbers are identified.

Description

Nasdaq PHLX LLC proposes changes to Equity 8A concerning information circular requirements for unlisted trading privilege (UTP) exchange-traded products. The changes would eliminate the Exchange’s requirement to distribute a duplicative information circular before trading begins, add cross-references to existing suitability and customer disclosure rules, and revise requirements for written descriptions when required by the listing exchange. The proposal also renumbers provisions and updates obsolete rule references. The SEC notice solicits public comments on the proposed rule change.

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