2 Sep 2025
📈Proposed Nasdaq PHLX Rule Change on Customer Cross Orders
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Permit Customer Cross Orders and Complex Customer Cross Orders as a Remote FBMS Transaction
Summary
The Securities and Exchange Commission has published a notice regarding a proposed rule change by Nasdaq PHLX LLC, allowing for customer cross orders and complex orders to be executed remotely. This change aims to streamline trading processes, improve operational efficiency, and align with existing practices at affiliated exchanges.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document details proposed regulatory changes concerning customer cross orders and electronic trading procedures which impact compliance requirements for brokers and exchanges. This can lead to operational adjustments for businesses involved in trading, enhancing efficiency and potentially increasing market participation.