Search Results for keywords:"self-match prevention"

Nasdaq BX, Inc. filed a proposed rule change with the Securities and Exchange Commission to amend its anti-internalization functionality. The proposal aims to enhance the existing system, allowing participants to prevent orders they enter directly into the system and those entered through Sponsored Access from executing against each other. This change is intended to help firms better manage their trades and avoid unwanted transactions like wash sales. The new functionality is voluntary, and firms can choose to opt-in to these self-match prevention features based on their needs.

Nasdaq PHLX LLC has proposed a rule change to enhance its anti-internalization features, which help prevent orders from the same firm from unintentionally trading against each other. This includes allowing firms with different trading strategies to prevent their orders from executing against each other by enhancing self-match prevention capabilities. The proposal also introduces a new strategy called "use remover," allowing resting orders to adopt the strategy of incoming orders, and makes various clarifications to existing rules. These changes aim to provide firms with more flexibility and control while ensuring compliance with trading regulations.