Notice2026-21247
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the PHLX Pricing Schedule at Options 7, Section 4 (Multiply Listed Options Fees)
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
October 19, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 91 Issue 200 (Monday, October 19, 2026)</title>
</head>
<body><pre>
[Federal Register Volume 91, Number 200 (Monday, October 19, 2026)]
[Notices]
[Pages 66187-66191]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-21247]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-106666; File No. SR-PHLX-2026-61]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the PHLX
Pricing Schedule at Options 7, Section 4 (Multiply Listed Options Fees)
October 14, 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 October 1, 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 amend the PHLX Pricing Schedule at Options
7, Section 4 (Multiply Listed Options Fees).
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
PHLX proposes to amend its Pricing Schedule at Options 7, Section 4
(Multiply Listed Options Fees).
Options 7, Section 4 (Multiply Listed Options Fees)
Currently, the Exchange offers a Floor Transaction (Open Outcry)
\3\ Floor Broker Incentive Program (``Program''). Under the Program,
the following transactions are not considered qualifying volume: (1)
dividend, merger, short stock interest, reversal and conversion, jelly
roll, and box spread strategy executions as defined in Options 7,
Section 4; (2) Firm \4\ Floor Options Transactions for members
executing facilitation orders \5\ pursuant to Options 8, Section 30
when such members are trading in their own proprietary account
(including Cabinet Options Transaction Charges); and (3) Customer \6\-
to-Customer transactions.
---------------------------------------------------------------------------
\3\ The term ``floor transaction'' is a transaction that is
effected in open outcry on the Exchange's Trading Floor. See Options
7, Section 1(c).
\4\ The term ``Firm'' applies to any transaction that is
identified by a member or member organization for clearing in the
Firm range at OCC. See Options 7, Section 1(c).
\5\ A facilitation order is a paired order entered into the
Facilitation Mechanism as described in Options 3, Section 11(b). See
Options 3, Section 7(w).
\6\ The term ``Customer'' applies to any transaction that is
identified by a member or member organization for clearing in the
Customer range at The Options Clearing Corporation (``OCC'') which
is not for the account of a broker or dealer or for the account of a
``Professional'' (as that term is defined in Options 1, Section
1(b)(45)). See Options 7, Section 1(c).
---------------------------------------------------------------------------
Currently, rebates are paid on qualifying volume at each threshold
level based on the below schedule. Floor QCC Orders, as defined in
Options 8, Section 30(e), and electronic QCC
[[Page 66188]]
Orders,\7\ as defined in Options 3, Section 12, are considered
qualifying volume but are not paid rebates based on the below schedule,
rather Floor QCC Orders and electronic QCC Orders are paid the QCC
Rebates noted in Options 7, Section 4. A Floor Broker is paid a $0.20
per contract rebate for open outcry floor executions that are contra a
Lead Market Maker \8\ or Market Maker,\9\ in lieu of any Floor Broker
Incentive Program rebate.
---------------------------------------------------------------------------
\7\ A Qualified Contingent Cross (``QCC'') Order is comprised of
an originating order to buy or sell at least 1000 contracts that is
identified as being part of a qualified contingent trade, as that
term is defined in Supplementary Material .01 below, coupled with a
contra-side order or orders totaling an equal number of contracts.
See Options 3, Section 7(j).
\8\ The term ``Lead Market Maker'' applies to transactions for
the account of a Lead Market Maker (as defined in Options 2, Section
12(a)). A Lead Market Maker is an Exchange member who is registered
as an options Lead Market Maker pursuant to Options 2, Section
12(a). An options Lead Market Maker includes a Remote Lead Market
Maker which is defined as an options Lead Market Maker in one or
more classes that does not have a physical presence on an Exchange
floor and is approved by the Exchange pursuant to Options 2, Section
11. See Options 7, Section 1(c).
\9\ The term ``Market Maker'' is defined in Options 1, Section
1(b)(28) as a member of the Exchange who is registered as an options
Market Maker pursuant to Options 2, Section 12(a). A Market Maker
includes SQTs and RSQTs as well as Floor Market Makers. The term
``Streaming Quote Trader'' or ``SQT'' is defined in Options 1,
Section 1(b)(55) as a Market Maker who has received permission from
the Exchange to generate and submit option quotations electronically
in options to which such SQT is assigned. The term ``Remote
Streaming Quote Trader'' or ``RSQT'' is defined in Options 1,
Section 1(b)(49) as a Market Maker that is a member affiliated with
an RSQTO with no physical trading floor presence who has received
permission from the Exchange to generate and submit option
quotations electronically in options to which such RSQT has been
assigned. A Remote Streaming Quote Trader Organization or ``RSQTO,''
which may also be referred to as a Remote Market Making Organization
(``RMO''), is a member organization in good standing that satisfies
the RSQTO readiness requirements in Options 2, Section 1(a). See
Options 7, Section 1(c).
---------------------------------------------------------------------------
The current tiered of rebates under this program is as follows:
----------------------------------------------------------------------------------------------------------------
Qualifying Per contract rebate Per contract rebate (non-
contracts (customer on one side) customer on both sides)
----------------------------------------------------------------------------------------------------------------
Tier 1.......................... 0-500,000.......... $0.04 $0.10
Tier 2.......................... 500,001-5,000,000.. 0.07 0.18
Tier 3.......................... 5,000,001-10,000,00 0.09 0.18
0.
Tier 4.......................... Greater than 0.10 0.20
10,000,000.
----------------------------------------------------------------------------------------------------------------
Currently, this tiered schedule of rebates is followed by five
examples (labeled Example 1 through Example 5) that illustrate how the
program works. Finally, rebates under this program are currently capped
at $2,000,000 per member or member organization in a given month.
First Change
The Exchange proposes to increase the Tier 1 Per Contract Rebate
(when there is a Customer on one side) from $0.04 to $0.07. This change
will bring this Tier 1 rebate to the same level as the Tier 2 rebate.
Second Change
The Exchange proposes to increase the Tier 1 Per Contract Rebate
(when there are Non-Customers on both sides) from $0.10 to $0.18. This
change will bring this Tier 1 rebate to the same level as the Tier 2
rebate.\10\
---------------------------------------------------------------------------
\10\ Even though the effect of the First and Second Changes is
that the new rebate amounts for Tier 1 will be identical to the
current (and continuing) rebate amounts for Tier 2, at this moment
the Exchange is choosing not to formally collapse these tiers, as it
may want to differentiate these tiers again in the future.
---------------------------------------------------------------------------
Third Change
The Exchange proposes to make several changes to Examples 2,\11\ 3,
and 4 to reflect the new rebate levels.
---------------------------------------------------------------------------
\11\ The Exchange is also replacing, in Example 2, two colons
(``:'') with semicolons (``;''). This is simply a typographical
clean up.
---------------------------------------------------------------------------
Fourth Change
The Exchange proposes to make a change to Example 4 to correct an
oversight from a prior filing,\12\ that had decreased the Tier 4 rebate
(when there are Non-Customers on both sides) from $0.22 to $0.20, but
had not adjusted its corresponding example. This is not a substantive
change.
---------------------------------------------------------------------------
\12\ See Securities Exchange Act Release No. 105913 (July 14,
2026), 91 FR 44933 (July 17, 2026) (File No. SR-PHLX-2026-44).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\13\ in general, and furthers the objectives of
Sections 6(b)(4) and 6(b)(5) of the Act,\14\ 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.
---------------------------------------------------------------------------
\13\ 15 U.S.C. 78f(b).
\14\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Commission and the courts have repeatedly expressed their
preference for competition over regulatory intervention in determining
prices, products, and services in the securities markets. In Regulation
NMS, while adopting a series of steps to improve the current market
model, the Commission highlighted the importance of market forces in
determining prices and SRO revenues and, also, recognized that current
regulation of the market system ``has been remarkably successful in
promoting market competition in its broader forms that are most
important to investors and listed companies.'' \15\
---------------------------------------------------------------------------
\15\ Securities Exchange Act Release No. 51808 (June 9, 2005),
70 FR 37496, 37499 (June 29, 2005) (``Regulation NMS Adopting
Release'').
---------------------------------------------------------------------------
Likewise, in NetCoalition v. Securities and Exchange Commission
\16\ (``NetCoalition'') the D.C. Circuit upheld the Commission's use of
a market-based approach in evaluating the fairness of market data fees
against a challenge claiming that Congress mandated a cost-based
approach.\17\ As the court emphasized, the Commission ``intended in
Regulation NMS that `market forces, rather than regulatory
requirements' play a role in determining the market data . . . to be
made available to investors and at what cost.'' \18\
---------------------------------------------------------------------------
\16\ NetCoalition v. SEC, 615 F.3d 525 (D.C. Cir. 2010).
\17\ See NetCoalition, at 534-535.
\18\ Id. at 537.
---------------------------------------------------------------------------
Further, ``[n]o one disputes that competition for order flow is
`fierce.' . . . As the SEC explained, `[i]n the U.S. national market
system, buyers and sellers of securities, and the broker-dealers that
act as their order-routing agents, have a wide range of choices of
where to route orders for execution'; [and] `no exchange can afford to
take its market share percentages for granted' because `no exchange
possesses a monopoly, regulatory or otherwise, in the execution of
order flow from broker dealers'. . . .'' \19\ Although the court and
the SEC were discussing the cash equities markets, the Exchange
believes
[[Page 66189]]
that these views apply with equal force to the options markets.
---------------------------------------------------------------------------
\19\ Id. at 539 (quoting Securities Exchange Act Release No.
59039 (Dec. 2, 2008), 73 FR 74770, 74782-83 (Dec. 9, 2008) (SR-
NYSEArca-2006-21)).
---------------------------------------------------------------------------
First Change
The Exchange believes that its proposal to increase the Tier 1 Per
Contract Rebate for qualifying volume with a Customer on one side from
$0.04 to $0.07 is reasonable. As discussed above, this change is
designed to increase the amount of the rebate available to Floor
Brokers at the entry-level tier of the Floor Broker Incentive Program,
thereby providing a stronger incentive for Floor Brokers to direct
qualifying open outcry order flow with a Customer on one side to the
Exchange. The Exchange believes that the proposed increase will make
the Floor Broker Incentive Program more attractive at the entry level
and will encourage additional Floor Brokers to participate in the
Program. Increased participation in the Program will bring additional
Customer order flow to the Exchange, which benefits all market
participants by providing more trading opportunities and deeper
liquidity, particularly for open outcry executions on the Exchange's
Trading Floor. The proposed Tier 1 rebate of $0.07 per contract is
reasonable because it is the same per contract rebate that the Exchange
currently pays for qualifying volume with a Customer on one side at the
Tier 2 volume level. The proposed change is therefore consistent with
the rebate levels that the Exchange has previously determined to be
reasonable under this same Program.
The Exchange further believes that the proposed increase in the
Tier 1 Per Contract Rebate for qualifying volume with a Customer on one
side is equitable and not unfairly discriminatory because the proposed
rebate will apply uniformly to all Floor Brokers that satisfy the Tier
1 volume threshold under the Floor Broker Incentive Program. Any Floor
Broker is able to qualify for the Tier 1 rebate by satisfying the
objective, transparent volume threshold of up to 500,000 qualifying
contracts, and all qualifying Floor Brokers will receive the same $0.07
per contract rebate on qualifying volume with a Customer on one side
within that threshold. The Exchange believes it is equitable and not
unfairly discriminatory to offer this rebate in respect of qualifying
volume with a Customer on one side because Customer liquidity benefits
all market participants by providing more trading opportunities, which
attracts Market Makers. An increase in the activity of these market
participants in turn facilitates tighter spreads, which may cause an
additional corresponding increase in order flow from other market
participants.
Second Change
The Exchange believes that its proposal to increase the Tier 1 Per
Contract Rebate for qualifying volume with Non-Customers on both sides
from $0.10 to $0.18 is reasonable. As discussed above, this change is
designed to increase the amount of the rebate available to Floor
Brokers at the entry-level tier of the Floor Broker Incentive Program
in respect of open outcry executions with Non-Customers on both sides,
thereby providing a stronger incentive for Floor Brokers to direct such
qualifying volume to the Exchange. The Exchange believes that the
proposed increase will make the Program more attractive at the entry
level and will encourage additional Floor Brokers to participate in the
Program. Increased participation in the Program will bring additional
order flow to the Exchange, which benefits all market participants by
providing more trading opportunities and deeper liquidity, particularly
for open outcry executions on the Exchange's Trading Floor. The
proposed Tier 1 rebate of $0.18 per contract is reasonable because it
is the same per contract rebate that the Exchange currently pays for
qualifying volume with Non-Customers on both sides at the Tier 2 volume
level (and, indeed, at the Tier 3 volume level). The proposed change is
therefore consistent with the rebate levels that the Exchange has
previously determined to be reasonable under this same Program.
The Exchange further believes that the proposed increase in the
Tier 1 Per Contract Rebate for qualifying volume with Non-Customers on
both sides is equitable and not unfairly discriminatory because the
proposed rebate will apply uniformly to all Floor Brokers that satisfy
the Tier 1 volume threshold under the Floor Broker Incentive Program.
Any Floor Broker is able to qualify for the Tier 1 rebate by satisfying
the objective, transparent volume threshold of up to 500,000 qualifying
contracts, and all qualifying Floor Brokers will receive the same $0.18
per contract rebate on qualifying volume with Non-Customers on both
sides within that threshold. The Exchange believes it is equitable and
not unfairly discriminatory to offer this rebate in respect of
qualifying volume with Non-Customers on both sides because such open
outcry activity supports the price discovery and liquidity provision
functions of the Exchange's Trading Floor, which benefits all market
participants.
Third Change
The Exchange believes that its proposal to make conforming changes
to Examples 2, 3, and 4 to reflect the new Tier 1 rebate levels is
consistent with the Act. This change is non-substantive and is designed
to ensure that the illustrative examples that accompany the tiered
rebate schedule accurately reflect the operation of the Floor Broker
Incentive Program under the increased Tier 1 rebates proposed in the
First and Second Changes. The Exchange believes that making these
conforming changes to the examples will make the Pricing Schedule
easier to read and will remove any potential confusion that could arise
from having the examples reflect outdated rebate amounts. This change
protects investors and the public interest by ensuring that the
illustrative examples in the Pricing Schedule are accurate and
consistent with the tiered rebate schedule as modified by this filing.
The Exchange further believes that the proposed changes to Examples
2, 3, and 4 are equitable and not unfairly discriminatory because they
are non-substantive and do not alter the fees or rebates available to
any Floor Broker or category of Floor Brokers. The updated examples
will apply uniformly to all Floor Brokers and will continue to
illustrate the operation of the Program in the same manner for all
similarly situated market participants.
Fourth Change
The Exchange believes that its proposal to correct Example 4 to
reflect the currently applicable Tier 4 Per Contract Rebate of $0.20
per contract for qualifying volume with Non-Customers on both sides is
consistent with the Act. As discussed above, this change is non-
substantive and is designed to correct an oversight from a prior filing
that had decreased the Tier 4 rebate (when there are Non-Customers on
both sides) but had not simultaneously adjusted the corresponding
figures in Example 4. The Exchange believes that correcting the example
will make the Pricing Schedule easier to read and will eliminate any
potential confusion that could arise from having the example reflect a
rebate amount that is no longer in effect. This change protects
investors and the public interest by ensuring that the illustrative
examples in the Pricing Schedule are accurate and consistent with the
tiered rebate schedule that is currently in effect.
The Exchange further believes that the proposed correction to
Example 4 is equitable and not unfairly discriminatory because it is
non-
[[Page 66190]]
substantive and does not alter the fees or rebates available to any
Floor Broker or category of Floor Brokers. The corrected example will
apply uniformly to all Floor Brokers and will continue to illustrate
the operation of the Program in the same manner for all similarly
situated market participants.
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.
Inter-Market Competition
The proposal does not impose an undue burden on inter-market
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. The Exchange believes its proposal remains
competitive with other options markets and will offer market
participants another choice of where to transact options. The Exchange
notes that it operates in a highly competitive market in which market
participants can readily favor competing venues if they deem fee levels
at a particular venue to be excessive, or rebate opportunities
available at other venues to be more favorable. In such an environment,
the Exchange must continually adjust its fees to remain competitive
with other exchanges. Because competitors are free to modify their own
fees in response, and because market participants may readily adjust
their order routing practices, the Exchange believes that the degree to
which fee changes in this market may impose any burden on competition
is extremely limited.
Intra-Market Competition
The Exchange does not believe that the proposed rule change would
impose any burden on intra-market competition that is not necessary or
appropriate in furtherance of the purposes of the Act.
First Change
The Exchange does not believe that its proposal to increase the
Tier 1 Per Contract Rebate for qualifying volume with a Customer on one
side from $0.04 to $0.07 will impose any undue burden on intra-market
competition. The proposed increased rebate will apply uniformly to all
similarly situated market participants: any Floor Broker that satisfies
the Tier 1 volume threshold under the Floor Broker Incentive Program
will receive the same $0.07 per contract rebate on qualifying volume
with a Customer on one side within that threshold. Any Floor Broker is
able to qualify for the Tier 1 rebate by satisfying the objective,
transparent volume threshold. The Exchange further believes that
providing this rebate for qualifying volume with a Customer on one side
does not impose an undue burden on intra-market competition because
Customer liquidity benefits all market participants by providing more
trading opportunities, which attracts Market Makers. An increase in the
activity of these market participants in turn facilitates tighter
spreads, which may cause an additional corresponding increase in order
flow from other market participants. The proposed change is designed to
enhance, rather than restrict, competition among Floor Brokers for open
outcry Customer order flow by increasing the amount of the entry-level
rebate available under the Program. To the extent Floor Brokers regard
the proposed Tier 1 rebate as insufficient, they may readily direct
their order flow to any of the other options exchanges that support
open outcry executions.
Second Change
The Exchange does not believe that its proposal to increase the
Tier 1 Per Contract Rebate for qualifying volume with Non-Customers on
both sides from $0.10 to $0.18 will impose any undue burden on intra-
market competition. The proposed increased rebate will apply uniformly
to all similarly situated market participants: any Floor Broker that
satisfies the Tier 1 volume threshold under the Floor Broker Incentive
Program will receive the same $0.18 per contract rebate on qualifying
volume with Non-Customers on both sides within that threshold. Any
Floor Broker is able to qualify for the Tier 1 rebate by satisfying the
objective, transparent volume threshold. The Exchange further believes
that providing this rebate for qualifying volume with Non-Customers on
both sides does not impose an undue burden on intra-market competition
because open outcry activity on the Exchange's Trading Floor supports
the price discovery and liquidity provision functions of the Trading
Floor, which benefits all market participants. The proposed change is
designed to enhance, rather than restrict, competition among Floor
Brokers for open outcry order flow with Non-Customers on both sides by
increasing the amount of the entry-level rebate available under the
Program. To the extent Floor Brokers regard the proposed Tier 1 rebate
as insufficient, they may readily direct their order flow to any of the
other options exchanges that support open outcry executions.
Third Change
The Exchange does not believe that its proposal to make conforming
changes to Examples 2, 3, and 4 will impose any burden on competition.
As discussed above, this change is non-substantive and is intended to
conform the illustrative examples in the Pricing Schedule to the
increased Tier 1 rebates proposed in the First and Second Changes.
Because the proposed change does not alter the fees or rebates
available to any Floor Broker or category of Floor Brokers, and merely
conforms the illustrative examples in the Pricing Schedule to the
tiered rebate schedule as modified by this filing, it does not impose
any burden on either intra-market or inter-market competition.
Fourth Change
The Exchange does not believe that its proposal to correct Example
4 will impose any burden on competition. As discussed above, this
change is non-substantive and is intended to correct an oversight from
a prior filing that had adjusted the Tier 4 Per Contract Rebate for
qualifying volume with Non-Customers on both sides but had not
simultaneously updated the corresponding figures in Example 4. Because
the proposed change does not alter the fees or rebates available to any
Floor Broker or category of Floor Brokers, and merely conforms the
illustrative example to the tiered rebate schedule that is currently in
effect, it does not impose any burden on either intra-market or inter-
market competition.
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.\20\
---------------------------------------------------------------------------
\20\ 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
[[Page 66191]]
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#691b1c050c440a0604040c071d1a291a0c0a470e061f"><span class="__cf_email__" data-cfemail="4d3f382128602e2220202823393e0d3e282e632a223b">[email protected]</span></a>. Please include
file number SR-PHLX-2026-61 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-2026-61. 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-2026-61 and should be submitted on
or before November 9, 2026.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\21\
---------------------------------------------------------------------------
\21\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-21247 Filed 10-16-26; 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 October 19, 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.