Search Results for keywords:"Qualified Contingent Cross"

Nasdaq ISE, LLC has filed a proposal with the Securities and Exchange Commission (SEC) to discontinue the use of "Qualified Contingent Cross" (QCC) orders that include stock components. This change is due to a lack of interest from exchange members in using this feature. Exchange members will still be able to execute QCC orders but will need to handle the stock component themselves. The SEC has allowed this change to take effect immediately to enable the exchange to remove the necessary infrastructure by the end of the year. No objections were received from exchange members regarding this proposal.

The Securities and Exchange Commission (SEC) has announced that Nasdaq MRX, LLC, is planning to stop offering two specific types of trading orders: Qualified Contingent Cross (QCC) with Stock Orders and Complex QCC with Stock Orders. These orders were used by members to automatically handle the stock portion of certain complex trades. However, these functionalities were never actually used, so Nasdaq MRX will remove them, allowing members to still conduct similar trades but with the responsibility of handling the stock part themselves. The change is expected to take effect by February 15, 2025, and the SEC has fast-tracked the approval process to support Nasdaq MRX's efficient operation.