5 Jun 2025
📈MIAX Pearl Proposes Rule Change for PAC Routing Options
Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 2617, Order Execution and Routing, To Remove an Unnecessary Parenthetical Naming the Primary Listing Equities Markets
Summary
The MIAX PEARL, LLC proposes an amendment to Exchange Rule 2617 to enhance the PAC routing option by eliminating unnecessary specification of primary listing markets. This change aims to simplify regulatory compliance, ensuring relevant practices remain dynamic and accurate as the number of primary listing markets evolves, benefiting equity market participants.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change simplifies rule text governing the PAC routing option by removing a list of specific primary listing markets. This affects how orders are routed and may streamline compliance for businesses engaged in equity markets, potentially leading to reduced operational complexities.