Securities and Exchange Commission
- [Release No. 34-106556; File No. SR-NASDAQ-2026-078]
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 September 18, 2026, The Nasdaq Stock Market LLC (“Nasdaq” or “Exchange”) filed with the Securities and Exchange Commission (“SEC” or “Commission”) the proposed rule change as described in Items I and II, 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.
I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change
The Exchange proposes to make conforming changes to Options 7 Section 13, Equity 4 Rule 4758, Equity 7 Section 118, Equity 7 Section 130, Equity 7 Section 139 and Equity 7 Section 155 to reflect the name change of “Nasdaq BX, Inc.” to “Nasdaq Texas, LLC”.
The text of the proposed rule change is available on the Exchange's website at listingcenter.nasdaq.com/rulebook/nasdaq/rulefilings, 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 Exchange proposes to make conforming changes to Options 7 Section 13 (Testing Facilities), Equity 4 Rule 4758 (Order Routing), Equity 7 Section 118 (Nasdaq Market Center Order Execution and Routing), Equity 7 Section 130 (Other Services), Equity 7 Section 139 (Nasdaq Last Sale and Nasdaq Last Sale Plus Data Feeds), and Equity 7 Section 155 (Short Sale Monitor) to reflect the name change of “Nasdaq BX, Inc.” to “Nasdaq Texas, LLC”.
Background and Proposed Rule Change
The Exchange's affiliate Nasdaq BX, Inc. (“Nasdaq BX”) recently converted from a corporation organized under the laws of the state of Delaware to a limited liability company (“LLC”) organized under the laws of the state of Texas and changed its name to “Nasdaq Texas, LLC”.[3] The Exchange accordingly proposes conforming changes to its rules to reflect its affiliate's name change. Specifically, the Exchange proposes to replace one reference to “Nasdaq BX, Inc.” in Options 7 Section 13 with “Nasdaq Texas, LLC”. Similarly, the Exchange proposes replacing five references to “Nasdaq BX” in Equity 4 Rule 4758 with “Nasdaq Texas”, twenty-five references to “Nasdaq BX” in Equity 7 Section 118 with “Nasdaq Texas” or “Nasdaq Texas”, one reference to “Nasdaq BX, Inc.” in Equity 7 Section 130 with “Nasdaq Texas, LLC”, five references to “Nasdaq BX” in Equity 7 Section 139 with “Nasdaq Texas”, and one reference to “Nasdaq BX” in Equity 7 Section 155 with “Nasdaq Texas”.
The proposed changes are conforming and non-substantive in nature.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section 6(b) of the Act,[4] in general, and furthers the objectives of Section 6(b)(5) of the Act,[5] in particular, in that it is 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, because ensuring that the Exchange's ( printed page 63323) rules accurately reflect the correct name of the Exchange's affiliate would contribute to the orderly operation of the Exchange by adding clarity and transparency. In addition, the proposed amendments would reduce potential investor and market participant confusion and therefore remove impediments to and perfect the mechanism of a free and open market and a national market system by ensuring that investors and market participants can more easily navigate, understand and comply with the Exchange's rules. The Exchange also believes that the proposed amendments remove impediments to and perfects the mechanism of a free and open market by ensuring that persons subject to the Exchange's jurisdiction, regulators, and the investing public can more easily navigate and understand the Exchange's rules. The proposed amendments would not be inconsistent with the public interest and the protection of investors because investors will not be harmed and in fact would benefit from the increased transparency and clarity, thereby reducing potential confusion.
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. The proposed rule change is not intended to address competitive issues but rather is concerned solely with updating the Exchange's rules to reflect its affiliate's name change.
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
Because the foregoing proposed rule change does not: (i) significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act [6] and subparagraph (f)(6) of Rule 19b-4 thereunder.[7]
A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the Act [8] normally does not become operative for 30 days after the date of its filing. However, Rule 19b-4(f)(6)(iii) [9] permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay so that the Exchange can immediately update its rulebook to reflect the name change. The Exchange states that implementing the proposed non-substantive change as soon as possible will prevent any confusion and make clear through the rulebook that Nasdaq BX, Inc. no longer exists in name. For this reason, and because the proposed rule change raises no new or novel legal or regulatory issues, the Commission believes that waiver of the operative delay would be 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.[10]
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 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
- Use the Commission's internet comment form (www.sec.gov/rules/sro.shtml); or
- Send an email torule-comments@sec.gov. Please include File Number SR-NASDAQ-2026-078 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-NASDAQ-2026-078. 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 ( www.sec.gov/rules/sro.shtml). 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-NASDAQ-2026-078 and should be submitted on or before October 26, 2026.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.[11]
Sherry R. Haywood,
Assistant Secretary.