Notice2026-18809
Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Options Order Protection and Locked/Crossed Market Plan To Add MX2 LLC as a Participant
Primary source
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Published
September 15, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 177 (Tuesday, September 15, 2026)</title>
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[Federal Register Volume 91, Number 177 (Tuesday, September 15, 2026)]
[Notices]
[Pages 58505-58506]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-18809]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-106328; File No. 4-546]
Joint Industry Plan; Notice of Filing and Immediate Effectiveness
of Amendment to the Options Order Protection and Locked/Crossed Market
Plan To Add MX2 LLC as a Participant
September 10, 2026.
Pursuant to Section 11A(a)(3) of the Securities Exchange Act of
1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given
that on September 1, 2026, MX2 LLC (``MX2'' or ``Exchange'') filed with
the Securities and Exchange Commission (``Commission'') an amendment to
the Options Order Protection and Locked/Crossed Market Plan
(``Plan'').\3\ The
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amendment adds MX2 as a Participant \4\ to the Plan. The Commission is
publishing this notice to solicit comments on the amendment from
interested persons.
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\1\ 15 U.S.C. 78k-1(a)(3).
\2\ 17 CFR 242.608.
\3\ On July 30, 2009, the Commission approved the Plan, which
was proposed by Chicago Board Options Exchange, Incorporated
(``Cboe''), International Securities Exchange, LLC (``ISE'') (n/k/a
Nasdaq ISE, LLC (``Nasdaq ISE'')), The NASDAQ Stock Market LLC
(``Nasdaq''), NASDAQ OMX BX, Inc. (``BX'') (n/k/a Nasdaq BX, Inc.
(``Nasdaq BX'')), NASDAQ OMX PHLX, Inc. (``Phlx'') (n/k/a Nasdaq
Phlx LLC (``Nasdaq Phlx'')), NYSE Amex, LLC (``NYSE Amex''), and
NYSE Arca, Inc. (``NYSE Arca''). See Securities Exchange Act Release
No. 60405 (July 30, 2009), 74 FR 39362 (Aug. 6, 2009). See also
Securities Exchange Act Release No. 61546 (Feb. 19, 2010), 75 FR
8762 (Feb. 25, 2010) (adding BATS Exchange, Inc. (``BATS'') (n/k/a
Cboe BZX Exchange, Inc. (``Cboe BZX'')) as a Participant); 63119
(Oct. 15, 2010), 75 FR 65536 (Oct. 25, 2010) (adding C2 Options
Exchange, Incorporated (``C2'') (n/k/a Cboe C2 Exchange, Inc.
(``Cboe C2'')) as a Participant); 66969 (May 12, 2015), 77 FR 29396
(May 17, 2012) (adding BOX Options Exchange LLC (``BOX Options'') as
a Participant); 70763 (Oct. 28, 2013), 78 FR 65740 (Nov. 1, 2013)
(adding Topaz Exchange, LLC (``Topaz'') (n/k/a Nasdaq GEMX, LLC
(``Nasdaq GEMX'') as a Participant); 70762 (Oct. 28, 2013), 78 FR
65733 (Nov. 1, 2013) (adding MIAX International Securities Exchange,
LLC (``MIAX'') as a Participant); 76823 (Jan. 5, 2016), 81 FR 1260
(Jan. 11, 2016) (adding EDGX Exchange, Inc. (``EDGX'') (n/k/a Cboe
EDGX Exchange, Inc. (``Cboe EDGX'')) as a Participant); 77324 (Mar.
8, 2016), 81 FR 13425 (Mar. 14, 2016) (adding ISE MERCURY, LLC
(``ISE Mercury'') (n/k/a Nasdaq MRX, LLC (``Nasdaq MRX'')) as a
Participant); 79896 (Jan. 30, 2017), 82 FR 9264 (Feb. 3, 2017)
(adding MIAX Pearl (``PEARL'')) as a Participant); 85229 (Mar. 1,
2019), 84 FR 8347 (Mar. 7, 2019) (adding MIAX Emerald, LLC
(``Emerald'') as a Participant); 98303 (Sept. 6, 2023) 88 FR 62610
(Sept. 12, 2023) (adding MEMX, LLC (``MEMX'') as a Participant); and
100657 (Aug. 5, 2024), 89 FR 65467 (Aug. 9, 2024) (adding MIAX
Sapphire LLC (``Sapphire'')).
\4\ The term ``Participant'' is defined as an Eligible Exchange
whose participation in the Plan has become effective pursuant to
Section 3(c) of the Plan.
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I. Description and Purpose of the Amendment
The Plan requires the options exchanges to establish a framework
for providing order protection and addressing locked and crossed
markets in eligible options classes. The amendment to the Plan adds MX2
as a Participant. The other Plan Participants are BOX, Cboe, Cboe BZX,
Cboe C2, Cboe EDGX, MEMX, MIAX, Emerald, PEARL, Sapphire, Nasdaq,
Nasdaq BX, Nasdaq GEMX, Nasdaq ISE, Nasdaq MRX, Nasdaq Phlx, NYSE
American, and NYSE Arca. MX2 has submitted an executed copy of the Plan
to the Commission in accordance with the procedures set forth in the
Plan regarding new Participants. Section 3(c) of the Plan provides for
the entry of new Participants to the Plan. Specifically, Section 3(c)
of the Plan provides that an Eligible Exchange \5\ may become a
Participant in the Plan by: (i) executing a copy of the Plan, as then
in effect; (ii) providing each current Participant with a copy of such
executed Plan; and (iii) effecting an amendment to the Plan, as
specified in Section 4(b) of the Plan.\6\
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\5\ Section 2(6) of the Plan defines an ``Eligible Exchange'' as
a national securities exchange registered with the Commission
pursuant to Section 6(a) of the Act, 15 U.S.C. 78f(a), that: (a) is
a ``Participant Exchange'' in the Options Clearing Corporation
(``OCC'') (as defined in OCC By-laws, Section VII); (b) is a party
to the Options Price Reporting Authority (``OPRA'') Plan (as defined
in the OPRA Plan, Section 1); and (c) if the national securities
exchange chooses not to become part to this Plan, is a participant
in another plan approved by the Commission providing for comparable
Trade-Through and Locked and Crossed Market protection. MX2 has
represented that it has met the requirements for being considered an
Eligible Exchange. See letter from Anders Franzon, General Counsel,
MX2, to Vanessa Countryman, Secretary, Commission, dated September
1, 2026.
\6\ MX2 has represented that it has executed a copy of the
current Plan, amended to include MX2 as a Participant and has sent
each current Participant a copy of the executed Plan. See letter
from Anders Franzon, General Counsel, MX2, to Vanessa Countryman,
Secretary, Commission, dated September 1, 2026.
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Section 4(b) of the Plan sets forth the process by which an
Eligible Exchange may effect an amendment to the Plan. Specifically, an
Eligible Exchange must: (a) execute a copy of the Plan with the only
change being the addition of the new Participant's name in Section 3(a)
of the Plan; and (b) submit the executed Plan to the Commission. The
Plan then provides that such an amendment will be effective when the
amendment is approved by the Commission or otherwise becomes effective
pursuant to Section 11A of the Act and Rule 608 thereunder.
II. Effectiveness of the Proposed Linkage Plan Amendment
The foregoing Plan amendment has become effective pursuant to Rule
608(b)(3)(iii) \7\ because it has been designated as involving solely
technical or ministerial matters. At any time within sixty days of the
filing of this amendment, the Commission may summarily abrogate the
amendment and require that it be refiled pursuant to paragraph (a)(1)
of Rule 608,\8\ if it appears to the Commission that such action is
necessary or appropriate in the public interest, for the protection of
investors, or the maintenance of fair and orderly markets, to remove
impediments to, and perfect the mechanisms of, a national market system
or otherwise in furtherance of the purposes of the Act.
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\7\ 17 CFR 242.608(b)(3)(iii).
\8\ 17 CFR 242.608(a)(1).
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III. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the amendment is
consistent with the Act and the rules thereunder. 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#5c2e293039713f3331313932282f1c2f393f723b332a"><span class="__cf_email__" data-cfemail="88fafde4eda5ebe7e5e5ede6fcfbc8fbedeba6efe7fe">[email protected]</span></a>. Please include
File Number 4-546 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 4-546. 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 4-546 and should be submitted on or before October
6, 2026.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(85).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-18809 Filed 9-14-26; 8:45 am]
BILLING CODE 8011-01-P
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