Type:Notice
Citation:90 FR 12577
Reading Time:about 3 minutes
Nasdaq ISE, LLC has submitted a proposed rule change to the Securities and Exchange Commission (SEC) concerning its FLEX trading rules. The proposed change aims to clarify how FLEX orders will be managed if the auction period goes beyond market closing. The rule change is designed for immediate effect, and interested parties are invited to submit their comments by April 8, 2025. Further details on the proposed rule change can be found on both the Nasdaq ISE and SEC websites.
Simple Explanation
Nasdaq ISE wants to change some rules about how special trades called FLEX orders are handled if they take too long and the market closes. They told a big group in charge, the SEC, about this, and people can say what they think until April 8, 2025.