Notice2026-18931
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Introduce Conforming Changes to Nasdaq Phlx Rules in Connection With the Establishment of Fees for Nasdaq TotalView Plus and Nasdaq Basic Plus
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 16, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 91 Issue 178 (Wednesday, September 16, 2026)</title>
</head>
<body><pre>
[Federal Register Volume 91, Number 178 (Wednesday, September 16, 2026)]
[Notices]
[Pages 58720-58723]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-18931]
[[Page 58720]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-106337; File No. SR-Phlx-2026-55]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Introduce
Conforming Changes to Nasdaq Phlx Rules in Connection With the
Establishment of Fees for Nasdaq TotalView Plus and Nasdaq Basic Plus
DATES: September 11, 2026.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on August 31, 2026, Nasdaq PHLX LLC (``Phlx'' or ``Exchange'') filed
with the Securities and Exchange Commission (``SEC'' or ``Commission'')
the proposed rule change as described in Items I, II, and III below,
which Items have been prepared by the Exchange. The Commission is
publishing this notice to solicit comments on the proposed rule change
from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to introduce conforming changes to Phlx rules
in connection with the establishment of fees for Nasdaq TotalView Plus
and Nasdaq Basic Plus by the Nasdaq Stock Exchange. Specifically, the
Exchange proposes to amend the Exchange's fees at (i) Equity 7, Section
3, Market Data Distributor Fees to waive the market data distributor
fees for PSX TotalView for firms that consolidate it with certain other
feeds for external redistribution; (ii) Equity 7, Section 3, PSX
TotalView to waive the fees for firms purchasing PSX TotalView Plus;
(iii) Equity 7, Section 3, PSX Last Sale and Nasdaq Last Sale Plus Data
Feeds to reflect the addition of Nasdaq Basic Plus as a product
offering subject to a consolidation fee; and (iv) Equity 7, Section 3,
PSX BBO Feeds to clarify that firms that receive Nasdaq Last Sale Plus
or Nasdaq Basic Plus or both shall pay monthly administrative fees and
data consolidation fees, each as described further below.
The text of the proposed rule change is available on the Exchange's
website at <a href="https://listingcenter.nasdaq.com/rulebook/phlx/rulefilings">https://listingcenter.nasdaq.com/rulebook/phlx/rulefilings</a>,
and at the principal office of the Exchange.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included 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 Exchange 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
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is to introduce conforming
changes to Phlx rules in connection with the establishment of fees for
Nasdaq TotalView Plus and Nasdaq Basic Plus by the Nasdaq Stock
Exchange. Specifically, the Exchange proposes to amend fees at (i)
Equity 7, Section 3, Market Data Distributor Fees to waive the market
data distributor fees for PSX TotalView for firms that consolidate it
with certain other feeds for external redistribution; (ii) Equity 7,
Section 3, PSX TotalView to waive the fees for firms purchasing PSX
TotalView Plus; (iii) Equity 7, Section 3, PSX Last Sale and Nasdaq
Last Sale Plus Data Feeds to reflect the addition of Nasdaq Basic Plus
as a product offering subject to a consolidation fee; and (iv) Equity
7, Section 3, PSX BBO Feeds to clarify that firms that receive Nasdaq
Last Sale Plus or Nasdaq Basic Plus or both shall pay monthly
administrative fees and data consolidation fees, each as described
further below.
Nasdaq TotalView Plus and Nasdaq Basic Plus Fees
The Nasdaq Stock Market LLC (``Nasdaq'') recently introduced two
new products, Nasdaq TotalView Plus and Nasdaq Basic Plus,\3\ which
consolidate Depth-of-Book \4\ and Top-of-Book \5\ information currently
disseminated by Nasdaq, Nasdaq Texas, LLC (``Nasdaq Texas''), and the
Exchange. Nasdaq has submitted to the Commission a fee filing designed
to set fees for Nasdaq TotalView Plus and Nasdaq Basic Plus at or below
fees currently charged for the Depth-of-Book and Top-of-Book products
offered by Nasdaq, Nasdaq Texas, and Phlx. This, together with the
networking and connectivity savings inherent in lowering the number of
data feeds, is designed to maximize the distribution of consolidated
data feeds to investors throughout the 23 hour, 5 days per week
schedule set to begin in December 2026.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 105997 (July 28,
2026), 91 FR 48466 (July 31, 2026) (SR-Nasdaq-2026-061) (a proposal
to introduce Nasdaq TotalView Plus and Nasdaq Basic Plus, two new
data feeds which will offer consolidated Top-of-Book and Depth-of-
Book information currently disseminated by Nasdaq, Nasdaq Texas and
Nasdaq PSX).
\4\ The underlying Depth-of-Book products are Nasdaq TotalView,
Nasdaq Texas TotalView, and PSX TotalView.
\5\ The underlying Top-of-Book products are Nasdaq Basic (which
includes both best bid and offer and last sale information), Nasdaq
Texas BBO, Nasdaq Texas Last Sale, PSX BBO, and PSX Last Sale.
---------------------------------------------------------------------------
Nasdaq will offer Nasdaq TotalView Plus for the same Professional
and Non-Professional Subscriber and enterprise license fees as Nasdaq
TotalView.\6\ To ensure that market data vendors will be able to offer
competing consolidated data products, any firm that certifies to Nasdaq
that it will consolidate Nasdaq TotalView, Nasdaq Texas TotalView and
Nasdaq PSX TotalView into a data feed solely for external
redistribution shall be exempt from Nasdaq Texas Market Data
Distributor Fees \7\ and Nasdaq PSX Market Data Distributor Fees.\8\
This will ensure that vendors will be able to cover the cost of
consolidating the underlying fees.
---------------------------------------------------------------------------
\6\ Internal and External Distributor, as well as Direct Access
fees, may apply to purchasers of Nasdaq Plus products depending on
the customer's use case. See Nasdaq Rules, Equity 7, Section 119(b).
\7\ See Nasdaq Texas Rules, Equity 7, Section 119(a).
\8\ See Equity 7, Section 3 (Market Data Distributor Fees).
---------------------------------------------------------------------------
Nasdaq will offer Nasdaq Basic Plus for the same Professional and
Non-Professional Subscriber, enterprise license, and Distributor fees
as Nasdaq Basic. To ensure that other market data vendors will be able
to offer competing consolidated data products, Nasdaq proposes to
charge the same monthly administrative and data consolidation fees for
Nasdaq Basic Plus as are currently charged for Nasdaq Last Sale Plus to
both Internal Distributors \9\ and External Distributors \10\ to cover
the costs of data feed consolidation to be incurred by market data
vendors.
---------------------------------------------------------------------------
\9\ ``Internal Distributors'' are Distributors that receive
Nasdaq Last Sale Plus or Nasdaq Basic Plus data and then distribute
that data to one or more Subscribers within the Distributor's own
entity.
\10\ ``External Distributors'' are Distributors that receive
Nasdaq Last Sale Plus or Nasdaq Basic Plus data and then distribute
that data to one or more Subscribers outside the Distributor's own
entity.
---------------------------------------------------------------------------
[[Page 58721]]
With respect to the Market Data Enterprise License for Display
Usage,\11\ which currently offers both Nasdaq TotalView and Nasdaq
Basic in the same enterprise license, Nasdaq proposes to offer the
Nasdaq TotalView Plus and Nasdaq Basic Plus feeds for the same fees
currently charged for the Nasdaq TotalView and Nasdaq Basic.
---------------------------------------------------------------------------
\11\ See Nasdaq Stock Market Rules, Equity 7, Section 132.
---------------------------------------------------------------------------
As a result of the introduction of Nasdaq TotalView Plus and Nasdaq
Basic Plus and their related fees, the Exchange is proposing amendments
to Equity 7, Section 3, Market Data Distributor Fees, PSX TotalView,
PSX Last Sale and Nasdaq Last Sale Plus Data Feeds, and PSX BBO Feeds
to make conforming changes to its fee schedule to align with the fees
outlined in Nasdaq's Equity 7, Sections 123, 132, 139, and 147 for
these new products.
Market Data Distributor Fees
The purpose of the first fee amendment is to issue a fee waiver for
External Market Data Distributor Fees of $1,620 per month, in Equity 7,
Section 3, Market Data Distributor Fees for vendors that certify to
Nasdaq that they will consolidate Nasdaq TotalView, Nasdaq Texas
TotalView and Nasdaq PSX TotalView into a data feed solely for external
redistribution. The same discount would not apply to non-vendors.
Vendors would be able to apply this fee reduction to cover the cost of
forming their own consolidated feed, thereby allowing vendors to
compete with Nasdaq in the sale of consolidated data products using the
depth of book data from Nasdaq affiliates.
PSX TotalView Fees
The purpose of the second fee amendment is to issue a fee waiver
for PSX TotalView fees in Equity 7, Section 3, PSX TotalView, to any
firm that purchases Nasdaq TotalView Plus. PSX TotalView disseminates
all individual Phlx Equities System participant orders and quotes
displayed in the system, the aggregate size of such orders and quotes
at each price level, and the trade data for executions that occur
within the Phlx Equities System.\12\ This will be a fee waiver of (i)
monthly Subscriber fees of $ $44.50 (operative January 1, 2026) for
each Subscriber for display usage or for non-display usage not based
upon Direct Access; and (ii) $1.00 per Subscriber per month for each
Professional Subscriber.\13\
This is to ensure that Nasdaq can offer Nasdaq TotalView Plus for
the same Subscriber fees as Nasdaq TotalView.
---------------------------------------------------------------------------
\12\ See Equity 7, Section 3 (PSX TotalView).
\13\ See id.
---------------------------------------------------------------------------
Administrative and Consolidation Fees
The purpose of the third and fourth fee amendments is to clarify
that firms that receive Nasdaq Basic Plus, in addition to or in lieu of
Nasdaq Last Sale Plus, will also pay the monthly administrative fee
applicable to PSX Last Sale, and that distributors of Nasdaq Last Sale
Plus or Nasdaq Basic Plus will pay a data consolidation fee of $350 per
month. Currently, firms that receive Nasdaq Last Sale Plus must pay the
administrative and consolidation fees,\14\ and this amendment extends
the same to purchasers of Nasdaq Basic Plus,\15\ as both Nasdaq Last
Sale Plus and Nasdaq Basic Plus contain the same PSX Last Sale
feeds.\16\
---------------------------------------------------------------------------
\14\ See Equity 7, Section 3 (PSX Last Sale and Nasdaq Last Sale
Plus Data Feeds).
\15\ Firms that receive Nasdaq Last Sale Plus or Nasdaq Basic
Plus would either be liable for Nasdaq Last Sale fees or Nasdaq
Basic fees, but not both. SR-NASDAQ-2026-070.
\16\ They also contain PSX BBO feeds, for which there is no
charge.
---------------------------------------------------------------------------
This fee is designed to cover the data consolidation costs of
market data vendors to ensure that they will be able to offer competing
consolidated data products to the new Nasdaq Basic Plus product, which
contains PSX Last Sale.
As a conforming change, the Exchange proposes to modify both Equity
7, Section 3, PSX Last Sale and Nasdaq Last Sale and PSX BBO Feeds to
state that firms that receive Nasdaq Last Sale Plus or Nasdaq Basic
Plus or both shall pay the monthly administrative fees for PSX Last
Sale and, as well as a data consolidation fee of $350 per month.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\17\ in general, and furthers the objectives of
Sections 6(b)(4) and 6(b)(5) of the Act,\18\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility, and is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers because the proposal: (i)
offers more customer choice; (ii) protects competition by covering the
data consolidation costs of market data vendors; (iii) does not
increase the fee for any Phlx product, but simply waives certain fees
or applies consolidation costs to firms purchasing certain data feeds;
(iv) conforms fees for Phlx products to the recent Nasdaq filings
related to the offer of Nasdaq TotalView Plus and Nasdaq Basic Plus;
and (v) offers products to all market participants on a non-
discriminatory basis.
---------------------------------------------------------------------------
\17\ 15 U.S.C. 78f(b).
\18\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
1. More Customer Choice
The proposal will expand choice by allowing customers to select
whether to purchase best bid and offer information through the separate
data feeds of Nasdaq Basic, Nasdaq Texas Last Sale, Nasdaq Texas BBO,
and PSX Last Sale, and PSX BBO (or any combination thereof) separately
or in a single feed. Purchasing Nasdaq Basic Plus or Nasdaq TotalView
Plus will allow some customers to optimize consumption by ingesting
information from multiple markets in a single connection, which may
result in cost savings for subscribers based on a more efficient
configuration of data feeds. Nothing in this proposal will change the
quantity or quality of Depth-of-Book or Top-of-Book information
available in the market, as the underlying feeds will remain available,
and the proposed feeds are simply amalgamations of those underlying
feeds.
2. No Competitive Advantage Relative to Market Data Vendors
In offering Nasdaq Basic Plus and Nasdaq TotalView Plus, Nasdaq
will be acting as a redistributor of Depth-of-Book \19\ and Top-of-Book
\20\ products from Nasdaq, Nasdaq Texas, and Phlx.\21\
---------------------------------------------------------------------------
\19\ The underlying Depth-of-Book products are Nasdaq TotalView,
Nasdaq Texas TotalView, and PSX TotalView.
\20\ The underlying Top-of-Book products are Nasdaq Basic (which
includes both best bid and offer and last sale information), Nasdaq
Texas BBO, Nasdaq Texas Last Sale, PSX BBO, and PSX Last Sale.
\21\ See Securities Exchange Act Release No. 105997 (July 28,
2026), 91 FR 48466 (July 31, 2026) (SR-Nasdaq-2026-061); SR-NASDAQ-
2026-070.
---------------------------------------------------------------------------
Nasdaq Basic Plus and Nasdaq TotalView Plus will be compiled from
the same underlying feeds from Nasdaq, Nasdaq Texas, and Phlx that are
distributed to the purchasers of those feeds. With respect to speed,
the path for the distribution of the information by the Exchange will
not be faster than the path for distribution that would be used by a
market data vendor to distribute similar, independently created
products.
With respect to information, the same source of the market data to
be used by the Exchange to create the two proposed products will also
be available to any other market data vendor. The Nasdaq system that
will create and support
[[Page 58722]]
Nasdaq Basic Plus and Nasdaq TotalView Plus will access the underlying
feeds from Nasdaq, Nasdaq Texas, and Phlx from the same point as any
market data vendor.
With respect to cost, Nasdaq will ensure that market data vendors
are able to compete with the proposed fees by introducing a fee waiver
for distributors of Nasdaq TotalView Plus and a consolidation fee for
Nasdaq Basic Plus. These proposals will allow vendors to cover the
costs of consolidation for Depth-of-Book and Top-of-Book feeds,
respectively.\22\ The Exchange is filing this proposal to implement
conforming changes for a Nasdaq Stock Exchange proposal filed
separately.
---------------------------------------------------------------------------
\22\ There is no consolidation fee for Nasdaq TotalView because
the waiver of distributor fees is sufficient to cover the costs of
consolidation without any additional fee.
---------------------------------------------------------------------------
The proposed fee waiver for Nasdaq TotalView Plus will exempt any
firm that certifies to Nasdaq that it will consolidate Nasdaq
TotalView, Nasdaq Texas TotalView and PSX TotalView into a data feed
solely for external redistribution from Nasdaq Texas Market Data
Distributor Fees \23\ and Phlx Market Data Distributor Fees.\24\ This
substantial savings in distributor fees offered only to external
distributors--$1,620 per month for Nasdaq Texas,\25\ and $1,390 per
month for PSX TotalView,\26\--will allow vendors to cover the cost of
consolidation of Depth-of-Book feeds and will ensure that market data
vendors will be able to offer consolidated data products that compete
with Nasdaq TotalView Plus.
---------------------------------------------------------------------------
\23\ See Nasdaq Texas Rules, Equity 7, Section 119.
\24\ See Equity 7, Section 3.
\25\ See Nasdaq Texas Rules, Equity 7, Section 119(a).
\26\ See Equity 7, Section 3 (Market Data Distributor Fees).
---------------------------------------------------------------------------
The proposed fees for Nasdaq Basic Plus include monthly
administrative fees for Nasdaq Last Sale, NTX Last Sale, and PSX Last
Sale and a data consolidation fee of $350 per month for Internal
Distributors and External Distributors of Nasdaq Basic Plus.\27\ This
is the current fee charged for Nasdaq Last Sale Plus to ensure that
market data vendors will be able to offer competing feeds.
---------------------------------------------------------------------------
\27\ Firms that receive Nasdaq Last Sale Plus or Nasdaq Basic
Plus would either be liable for Nasdaq Last Sale fees or Nasdaq
Basic fees, but not both.
---------------------------------------------------------------------------
Nasdaq introduced a consolidation fee for both Nasdaq Basic Plus
and Nasdaq Last Sale Plus because Nasdaq Basic Plus includes last sale
information. Nasdaq expects vendors to use the same processes and
servers to consolidate both best bid and offer and last sale
information, and therefore the same consolidation fee should be
sufficient to cover all data consolidation costs, enabling vendors to
compete in consolidating and distributing data from multiple exchanges.
The Exchange is proposing to amend its rules to permit that
competition.
3. No Fee Increases
Nothing in the proposal involves an increase to the fees currently
charged by Phlx for its data feeds. Any subscriber to solely a Phlx
feed will continue to pay the same fees as are currently set, without
any change. The subscriber fee waivers and consolidation fees proposed
herein are to ensure that any purchaser of a compiled product, whether
it is Nasdaq TotalView Plus, Nasdaq Basic Plus, or the feeds necessary
to compile a competing product containing the same information as
Nasdaq TotalView Plus and/or Nasdaq Basic Plus, is not at a cost
disadvantage compared to other purchasers of the same information.
The proposed data consolidation fee for Nasdaq Basic Plus is
exactly the same fee as currently charged for Nasdaq Last Sale Plus,
and customers of Nasdaq Last Sale Plus would pay no additional
consolidation fee for Nasdaq Basic Plus. These consolidation and
administrative fees are not new, but are simply being expanded to
Nasdaq's new product, and do not increase the fees charged to
purchasers of Phlx data.
Rather, the proposed fee waiver of PSX TotalView fees for vendors
of Nasdaq TotalView Plus lowers fees below current fees.
The proposed waiver of all subscriber fees, including both
Professional and Non-Professional fees, Non-Display Usage fees, and
enterprise license fees for Phlx data for Nasdaq TotalView Plus will
actually lower fees further, as purchasers of Nasdaq TotalView Plus
will be charged the same fees as currently charged for Nasdaq TotalView
alone. The proposed Nasdaq TotalView Plus fees therefore offer
customers a discount below current fees.
4. Conforming amendments
The proposal conforms fees for Phlx products to the recent Nasdaq
filings related to the offer of Nasdaq TotalView Plus and Nasdaq Basic
Plus.\28\ In order for Nasdaq's proposed fees to be effective, Phlx
must update its rules to ensure that they do not conflict with
Nasdaq's. The proposed amendments to Equity 7, Section 3 are conforming
changes made to align the Exchange's rules to Nasdaq's.
---------------------------------------------------------------------------
\28\ See Securities Exchange Act Release No. 105997 (July 28,
2026), 91 FR 48466 (July 31, 2026) (SR-Nasdaq-2026-061); SR-NASDAQ-
2026-070.
---------------------------------------------------------------------------
5. No Unfair Discrimination
The proposal is not designed to permit unfair discrimination
between customers, issuers, brokers, or dealers because the proposed
feeds are optional data fees available to all market participants on a
non-discriminatory basis.
In summary, the proposal provides for the equitable allocation of
reasonable dues, fees and other charges among members and issuers and
other persons using any facility, and is not designed to permit unfair
discrimination between customers, issuers, brokers, or dealers because
the proposal: (i) offers more customer choice; (ii) protects
competition by covering the data consolidation costs of market data
vendors; (iii) does not increase the fee for any Phlx product, but
simply waives certain fees or applies consolidation costs to firms
purchasing certain data feeds; (iv) conforms fees for Phlx products to
the recent Nasdaq filings related to the offer of Nasdaq TotalView Plus
and Nasdaq Basic Plus; and (v) offers products to all market
participants on a non-discriminatory basis.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act.
Nothing in the proposal burdens inter-market competition (the
competition among self-regulatory organizations) because approval of
the proposal does not impose any burden on the ability of other
exchanges to compete. The proposal merely implements fee waivers for
certain purchasers and consolidation and administrative fees for
others, which any other exchange could propose.
Nothing in the Proposal burdens intra-market competition (the
competition among consumers of exchange data), because the products
related to the fee changes--Nasdaq TotalView Plus and Nasdaq Basic
Plus--will be offered to all market participants at the same price and
any market participant that elects to purchase either Nasdaq TotalView
Plus or Nasdaq Basic Plus may do so on a non-discriminatory basis.
Moreover, as explained above, the proposed fees offer no
competitive advantage relative to market data vendors, and are in fact
designed to promote competition. There is no
[[Page 58723]]
change to (or advantage in) speed or information. With respect to cost,
the Exchange proposes to ensure that market data vendors are able to
compete with the proposed fees by introducing a fee waiver for Nasdaq
TotalView Plus that is exclusively available to market data vendors and
a consolidation fee for Nasdaq Basic Plus. These Nasdaq feeds are
completely voluntary products in that Nasdaq is not required by any
rule or regulation to make this data available and potential
subscribers may purchase it only if they voluntarily choose to do so.
Information is compiled from underlying feeds from Nasdaq, Nasdaq
Texas, and the Exchange, which will remain available for purchase.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\29\
---------------------------------------------------------------------------
\29\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------
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: (i)
necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.
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#a8daddc4cd85cbc7c5c5cdc6dcdbe8dbcdcb86cfc7de"><span class="__cf_email__" data-cfemail="8bf9fee7eea6e8e4e6e6eee5fff8cbf8eee8a5ece4fd">[email protected]</span></a>. Please include
file number SR-Phlx-2026-55 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-Phlx-2026-55. 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-Phlx-2026-55 and should be submitted on
or before October 7, 2026.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\30\
---------------------------------------------------------------------------
\30\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-18931 Filed 9-15-26; 8:45 am]
BILLING CODE 8011-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on September 16, 2026.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.