Securities and Exchange Commission
- [Release No. 34-105349; File No. SR-CTA/CQ-2026-02]
Pursuant to Section 11A of the Securities Exchange Act of 1934 (“Act”),[1] and Rule 608 thereunder,[2] notice is hereby given that on April 21, 2026, the Participants [3] in the Second Restatement of the Consolidated Tape Association (“CTA”) Plan and the Restated Consolidated Quotation (“CQ”) Plan (“CTA/CQ Plans” or “Plans”) filed with the Securities and Exchange Commission (“Commission”) a proposal to amend the Plans. The amendments represent the Forty-First Amendment to the Second Restatement to the CTA Plan and Thirty-Second Amendment to the Restated CQ Plan (“Amendments”). Under the Amendments, the Participants propose to reflect the new name of Nasdaq BX, Inc. as Nasdaq Texas, Inc. and to add the Texas Stock Exchange LLC (“TSE”) as a Participant to the Plans.[4]
The proposed Amendments have been filed by the Participants pursuant to Rule 608(b)(3)(ii) under Regulation NMS [5] as concerned solely with the administration of the Plans and as “Ministerial Amendments” under both Section IV(b) of the CTA Plan and Section IV(c) of the CQ Plan. As a result, the Amendments can be submitted by the Chairman of the Plans' Operating Committee and become effective upon filing.
The Commission is publishing this notice to solicit comments on the Amendments from interested persons. Set forth in Sections I and II is the statement of the purpose and summary of the Amendments, along with the information required by Rules 608(a) and 601(a) under the Act, as prepared and submitted by the Participants.
I. Rule 608(a)
1. Purpose of the Amendments
The above-captioned amendments effectuate a change to reflect the new name of Nasdaq BX as Nasdaq Texas. The amendment also admits the Texas Stock Exchange as a new Participant.
2. Governing or Constituent Documents
No change as a result of amendments.
3. Implementation of Amendments
Because the amendments constitute “Ministerial Amendments” under both Section IV(b) of the CTA Plan and Section IV(c) under the CQ Plan, the Chair of the Plans' Operating Committee may submit the amendments to the Commission on behalf of the Participants in the Plans. Because the Participants designate the amendments as concerned solely with the administration of the Plans, the amendments become effective upon filing with the Commission.
4. Development and Implementation Phases
No change as a result of amendments.
5. Analysis of Impact on Competition
The amendments do not impose any burden on competition because they simply effectuate a change in the name of a Participant and admit a new Participant to the Plans. For the same reasons, the Participants do not believe that the amendments introduce terms that are unreasonably discriminatory for the purposes of Section 11A(c)(1)(D) of the Exchange Act. The Texas Stock Exchange has completed the required steps to be added to the Plans.
6. Written Understanding or Agreements Relating to Interpretation of, or Participation in, Plan
Not applicable.
7. Approval by Sponsors in Accordance With Plan
See Item 3 above.
8. Description of Operation of Facility Contemplated by the Proposed Amendment
No change as a result of amendments.
9. Terms and Conditions of Access
No change as a result of amendments.
10. Method of Determination and Imposition, and Amount of, Fees and Charges
No change as a result of amendments. ( printed page 24620)
11. Method and Frequency of Processor Evaluation
No change as a result of amendments.
12. Dispute Resolution
No change as a result of amendments.
II. Rule 601(a)
1. Equity Securities for Which Transaction Reports Shall Be Required by the Plan
No change as a result of amendments.
2. Reporting Requirements
No change as a result of amendments.
3. Manner of Collecting, Processing, Sequencing, Making Available and Disseminating Last Sale Information
No change as a result of amendments.
4. Manner of Consolidation
No change as a result of amendments.
5. Standards and Methods Ensuring Promptness, Accuracy and Completeness of Transaction Reports
No change as a result of amendments.
6. Rules and Procedures Addressed to Fraudulent or Manipulative Dissemination
No change as a result of amendments.
7. Terms of Access to Transaction Reports
No change as a result of amendments.
8. Identification of Marketplace of Execution
No change as a result of amendments.
III. Solicitation of Comments
Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed Amendments are consistent with the Act. Comments may be submitted by any of the following methods:
Electronic Comments
- Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
- Send an email torule-comments@sec.gov. Please include file number SR-CTA/CQ-2026-02 on the subject line.
Paper Comments
- 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-CTA/CQ-2026-02. 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 ( http://www.sec.gov/rules/sro.shtml). Copies of the filing will be available for inspection and copying at the principal offices of the Participants. 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-CTA/CQ-2026-02 and should be submitted on or before May 27, 2026.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6
J. Matthew DeLesDernier,
Deputy Secretary.