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Nasdaq Texas Proposes Monthly Review of Professional Orders

Nasdaq Texas, LLC filed a proposed rule change with the SEC to modify the review period for Professional order designations from quarterly to monthly. Under the proposal, participants must review customer order activity and update designations within five days after each calendar month rather than each calendar quarter. The SEC is soliciting comments on the proposal, which has a proposed implementation date of July 1, 2026.

Nasdaq Texas Amends Rule 4759 to Add TXSE Quotation Data Sources

Nasdaq Texas, LLC filed a proposed rule change with the SEC to amend Equity 4, Rule 4759 (Data Feeds Utilized). The amendment establishes the Texas Stock Exchange (TXSE) as a new market center with direct feed as the primary quotation data source and CQS/UQDF as the secondary source. The rule change also updates an exchange name following a recent rename to NYSE Texas. The filing became immediately effective under Section 19(b)(3)(A)(iii) of the Securities Exchange Act of 1934.

Nasdaq Rule Change Amends Equity 4 Rule 4759 To Add TXSE Quotation Data Feeds

The SEC published a notice that Nasdaq filed a proposed rule change to amend Equity 4, Rule 4759 to establish a primary and secondary source of quotation data for the new Texas Stock Exchange (TXSE). The Exchange will receive a direct feed from TXSE as its primary quotation data source and will use CQS/UQDF as the secondary data source. The table also reflects updated names for recently renamed exchanges (Nasdaq Texas and NYSE Texas). The rule change became effective immediately pursuant to Section 19(b)(3)(A)(iii) of the Securities Exchange Act of 1934.

NASDAQ Proposes IM-5101-4 Delisting Authority After Trading Suspension

The SEC has designated June 4, 2026, as the extended deadline for Commission action on NASDAQ's proposed rule change to adopt IM-5101-4. The proposed rule would authorize NASDAQ to delist a security where the SEC has previously suspended trading and NASDAQ determines it appropriate and in the public interest. The original 45-day review period expired April 20, 2026.

SEC Extends Review Period for Nasdaq IM-5101-4 Listing Rule

The SEC has extended its review period for SR-NASDAQ-2026-009, a proposed rule change to adopt Nasdaq IM-5101-4, which would grant Nasdaq authority to delist securities where the Commission has previously suspended trading. The SEC originally had until April 20, 2026, to act but has extended that deadline to June 4, 2026, to allow sufficient time to consider the proposed rule change and the issues raised.

Nasdaq Proposes Adding Class ETF Shares to ETP Definition

Nasdaq filed a proposed rule change with the SEC on April 7, 2026, to amend Equity 1, Section 1(a)(15) by adding Class ETF Shares (per Rule 5703) to the definition of Exchange-Traded Product. The change would allow issuers of Nasdaq-listed Class ETF Shares to optionally use the Initial ETP Open halt process on launch day, opening trading via the Nasdaq Halt Cross rather than at the start of Pre-Market Hours at 4:00 a.m. ET. This extends to Class ETF Shares the same optional launch-day functionality already available to other ETP issuers.

Nasdaq Texas Rule Change to Add TXSE Quotation Data Feeds

The SEC published a proposed rule change by Nasdaq Texas to amend Equity 4, Rule 4759 (Data Feeds Utilized). The Exchange proposes to add the Texas Stock Exchange (TXSE) as a new market center, receiving direct quotation data as its primary source and CQS/UQDF as its secondary source. The table will also be updated to reflect the recent renaming of an exchange to NYSE Texas.

IEX Rule 11.240 Amendment for Odd-Lot Reporting Under Regulation NMS

The Investors Exchange LLC (IEX) filed a proposed rule change with the SEC on April 10, 2026, to amend IEX Rule 11.240 (Trade Execution, Reporting, and Dissemination of Quotations). The amendment would add subparagraph (b)(3) to conform the Exchange's odd-lot reporting obligations with recently approved amendments to Rules 600 and 603 of Regulation NMS. The proposed rule change was designated as non-controversial by the Exchange under Rule 19b-4(f)(6)(iii). The compliance date for odd-lot information dissemination by the SIPs is May 1, 2026.

Nasdaq PHLX Proposes 10% Fee Increase for Testing Facility Connectivity

Nasdaq PHLX LLC has filed a proposed rule change with the SEC to increase fees for its Testing Facility located in Carteret, New Jersey by 10%, raising the monthly hand-off fee from $1,000 to $1,100 and the one-time installation fee from $1,000 to $1,100. The Exchange cites the Data Processing and Related Services Producer Price Index as justification, showing cumulative inflation of approximately 13.59% since its last fee adjustment around 2017. The SEC is soliciting comments from interested persons on the proposed rule change.

Nasdaq Rule 4759 Data Feed Amendment to Add TXSE

The Nasdaq Stock Market LLC filed a proposed rule change with the SEC to amend Equity 4, Rule 4759, which lists the proprietary and network processor feeds used for order handling, routing, and execution. The amendment adds the new Texas Stock Exchange (TXSE) as a market center with primary (direct TXSE feed) and secondary (CQS/UQDF) quotation data sources, and updates exchange names to reflect recent renamings to Nasdaq Texas and NYSE Texas. The SEC is soliciting public comments through May 12, 2026.

Nasdaq PHLX Proposes Adding TXSE to Data Feeds Table

Nasdaq PHLX LLC filed a proposed rule change with the SEC to amend Equity 4, Rule 3304, which governs the Exchange's data feeds table for handling, routing, and executing orders and related regulatory compliance. The change adds the Texas Stock Exchange as a new market center with a direct feed as primary quotation data source and CQS/UQDF as secondary source, and updates the names of two recently-renamed exchanges (Nasdaq Texas and NYSE Texas). The SEC published this notice to solicit public comments on the proposed rule change.