Notice2026-05944
Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend IEX Rules To Reflect the Name Change of Nasdaq BX to Nasdaq Texas
Primary source
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Published
March 27, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 59 (Friday, March 27, 2026)</title>
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[Federal Register Volume 91, Number 59 (Friday, March 27, 2026)]
[Notices]
[Pages 14892-14894]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-05944]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-105069; File No. SR-IEX-2026-08]
Self-Regulatory Organizations; Investors Exchange LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend IEX
Rules To Reflect the Name Change of Nasdaq BX to Nasdaq Texas
March 24, 2026.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on March 16, 2026, the Investors Exchange LLC (``IEX'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I
and II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Pursuant to the provisions of Section 19(b)(1) under the Act,\4\
and Rule 19b-4 thereunder,\5\ the Exchange is filing with the
Commission a proposed rule to amend IEX Rules 2.220(a)(7) and 11.410(a)
to make conforming changes reflecting the name change of Nasdaq BX,
Inc. (``Nasdaq BX'') to Nasdaq Texas, LLC (``Nasdaq Texas''), replace
obsolete references to ``NASDAQ'' with the current name ``Nasdaq,'' and
make a conforming change in Rule 2.220(a)(7). The Exchange has
designated this rule change as ``non-controversial'' under Section
19(b)(3)(A) of the Act \6\ and provided the Commission with the notice
required by Rule 19b-4(f)(6) thereunder.\7\
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\4\ 15 U.S.C. 78s(b)(1).
\5\ 17 CFR 240.19b-4.
\6\ 15 U.S.C. 78s(b)(3)(A).
\7\ 17 CFR 240.19b-4.
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The text of the proposed rule change is available at the Exchange's
website at <a href="https://www.iexexchange.io/resources/regulation/rule-filings">https://www.iexexchange.io/resources/regulation/rule-filings</a>
and at the principal office of the Exchange.
II. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included
[[Page 14893]]
statements concerning the purpose of and basis for the proposed rule
change and discussed any comments it received on the proposed rule
change. The text of these statements may be examined at the places
specified in Item IV below. The self-regulatory organization has
prepared summaries, set forth in Sections A, B, and C below, of the
most significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
Nasdaq BX, Inc. recently converted from a corporation organized
under the laws of the state of Delaware to a limited liability company
organized under the laws of the state of Texas and changed its legal
name to ``Nasdaq Texas, LLC.'' \8\ The Exchange proposes conforming
changes to its rules to reflect this name change by amending Rules
2.220(a)(7) and 11.410(a) to reflect the name change of ``NASDAQ BX''
to ``Nasdaq Texas.'' Rule 2.220(a)(7) lists the away trading centers
that IEX Services LLC (``IEX Services'') routes to as outbound router
for the Exchange and Rule 11.410(a) specifies the market data sources
for each away trading center that the Exchange uses for necessary price
reference points.
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\8\ See Securities Exchange Act Release No. 104736 (January 29,
2026), 91 FR 4980 (February 3, 2026) (SR-BX-2026-005).
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Specifically, the Exchange proposes to amend Rule 2.220(a)(7) by
replacing the reference to ``NASDAQ BX'' with ``Nasdaq Texas'' \9\ in
the list of away trading centers to which IEX Services routes orders.
The Exchange also proposes to amend Rule 11.410(a) by replacing the
reference to ``NASDAQ BX'' with ``Nasdaq Texas'' in the table of market
data sources the Exchange uses to determine its Top of Book quotation,
NBBO, and for certain reporting, regulatory, and compliance systems
within IEX. The Exchange will continue to utilize the proprietary
market data feed for Nasdaq Texas, as it did for Nasdaq BX, as set
forth in Rule 11.410(a)(2).
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\9\ In 2017, NASDAQ BX amended its rules and certain corporate
documents to change its name from ``NASDAQ BX'' to ``Nasdaq BX.''
Securities Exchange Act Release No. 81948 (October 25, 2017), 82 FR
50468 (October 31, 2017) (SR-BX-2017-046).
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The Exchange is also proposing to replace obsolete references to
``NASDAQ'' in Rules 2.220(a)(7) and 11.410(a) with the current name,
``Nasdaq,'' \10\ as follows:
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\10\ In 2017, the Nasdaq Stock Market and Nasdaq PHLX amended
their rules and certain corporate documents to replace ``NASDAQ''
with ``Nasdaq'' in their exchange names. See Securities Exchange Act
Release No. 81917 (October 27, 2017), 82 FR 49879 (October 23, 2017)
(SR-NASDAQ-2017-111) (changing ``The NASDAQ Stock Market LLC'' to
``The Nasdaq Stock Market LLC''); Securities Exchange Act Release
No. 81938 (October 24, 2017), 82 FR 50185 (October 30, 2017) (SR-
PHLX-2017-83) (changing ``NASDAQ PSX'' to ``Nasdaq PSX'').
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<bullet> Rules 2.220(a)(7) and 11.410(a): references to ``NASDAQ
PSX'' will be changed to ``Nasdaq PSX'';
<bullet> Rule 11.410(a): references to ``NASDAQ Stock Market'' will
be changed to ``The Nasdaq Stock Market''; and
<bullet> Rule 2.220(a)(7): references to ``NASDAQ Stock Exchange''
will be changed to ``The Nasdaq Stock Market.''
The Exchange is not proposing any other changes to IEX Rules
2.220(a)(7) and 11.410(a). The proposed changes do not alter the manner
in which orders are handled or routed by the Exchange.
2. Statutory Basis
IEX believes that the proposed rule changes are consistent with the
provisions of Section 6(b) \11\ of the Act in general, and further the
objectives of Section 6(b)(5) of the Act \12\ in particular, in that
they are designed to promote just and equitable principles of trade, to
remove impediments to and perfect the mechanism of a free and open
market and a national market system, and, in general, to protect
investors and the public interest.
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\11\ 15 U.S.C. 78f.
\12\ 15 U.S.C. 78f(b)(5).
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For the reasons discussed in the Purpose section, the Exchange
believes that the proposed rule changes remove impediments to and
perfect the mechanism of a free and open market and protect investors
and the public interest because changing references to ``NASDAQ BX'' to
``Nasdaq Texas,'' ``NASDAQ PSX'' to ``Nasdaq PSX,'' and ``NASDAQ Stock
Market'' to ``The Nasdaq Stock Market'' in the table in Rule 11.410(a)
designating those exchanges' proprietary data feeds as the primary
source of market data the Exchange will use to determine away trading
center Top of Book quotes, the NBBO, and for certain regulatory,
reporting and compliance systems within IEX, will facilitate the
Exchange's compliance with the applicable requirements of Regulation
NMS.
Additionally, changing references to ``NASDAQ BX'' to ``Nasdaq
Texas,'' ``NASDAQ PSX'' to ``Nasdaq PSX,'' and ``NASDAQ Stock
Exchange'' (Rule 2.220(a)(7)) and ``NASDAQ Stock Market'' (Rule
11.410(a)) to ``The Nasdaq Stock Market'' in the list of away trading
centers to which IEX routes and in the table designating those
exchanges' proprietary data feeds as the primary source of market data
the Exchange will use to determine away trading center Top of Book
quotes, the NBBO, and for certain regulatory, reporting and compliance
systems within IEX, provides transparency and avoids confusion with
respect to the away trading centers to which IEX Services may route
orders and the source of market data the Exchange will use to determine
those exchanges' Top of Book quotes. As noted in the Purpose section,
the proposed changes are nonsubstantive and do not alter the manner in
which orders are handled or routed by the Exchange.
B. Self-Regulatory Organization's Statement on Burden on Competition
IEX does not believe that the proposed rule changes will result in
any burden on competition that are not necessary or appropriate in
furtherance of the purposes of the Act. The Exchange believes that the
proposed updates do not impact competition in any respect since the
purpose is to enhance transparency with respect to the operation of the
Exchange and its use of market data feeds, and to update an away market
name referenced in IEX Rules.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Pursuant to Section 19(b)(3)(A) of the Act \13\ and Rule 19b-
4(f)(6) \14\ thereunder, the Exchange has designated this proposal as
one that effects a change that: (i) does not significantly affect the
protection of investors or the public interest; (ii) does not impose
any significant burden on competition; and (iii) by its terms, does not
become operative for 30 days after the date of the filing, or such
shorter time as the Commission may designate if consistent with the
protection of investors and the public interest.
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\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(6).
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A proposed rule change filed under Rule 19b-4(f)(6) \15\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\16\ the
[[Page 14894]]
Commission may designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has asked the Commission to waive the 30-day operative delay so that
the proposed rule changes may become operative upon filing. In the
filing, the Exchange stated it is proposing non-substantive, conforming
changes to reflect the name change of Nasdaq BX to Nasdaq Texas,
replace obsolete references to ``NASDAQ'' to Nasdaq, and make a
conforming change in Rule 2.220(a)(7). These non-substantive conforming
changes do not impose any significant burden on competition because
they apply evenly to all Equity Members. The proposed rule changes do
not raise any novel issues as the Nasdaq name changes have already
occurred, and waiver of the operative delay allows for the immediate
clarification of the Exchange's rules to reflect these changes, and
therefore, waiver of the 30-day operative delay is consistent with the
protection of investors and the public interest. Accordingly, the
Commission hereby waives the operative delay and designates the
proposal operative upon filing.\17\
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\15\ 17 CFR 240.19b-4(f)(6).
\16\ 17 CFR 240.19b-4(f)(6)(iii).
\17\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \18\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\18\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
<bullet> Use the Commission's internet comment form (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#e99b9c858cc48a8684848c879d9aa99a8c8ac78e869f"><span class="__cf_email__" data-cfemail="453730292068262a2828202b3136053620266b222a33">[email protected]</span></a>. Please include
file number SR-IEX-2026-08 on the subject line.
Paper Comments
<bullet> Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.
All submissions should refer to file number SR-IEX-2026-08. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>). Copies of the filing will be available for inspection and
copying at the principal office of the Exchange. Do not include
personal identifiable information in submissions; you should submit
only information that you wish to make available publicly. We may
redact in part or withhold entirely from publication submitted material
that is obscene or subject to copyright protection. All submissions
should refer to file number SR-IEX-2026-08 and should be submitted on
or before April 17, 2026.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
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\19\ 17 CFR 200.30-3(a)(12), (59).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-05944 Filed 3-26-26; 8:45 am]
BILLING CODE 8011-01-P
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