Notice2026-11816
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Section 4
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Published
June 12, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 113 (Friday, June 12, 2026)</title>
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[Federal Register Volume 91, Number 113 (Friday, June 12, 2026)]
[Notices]
[Pages 35718-35722]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-11816]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-105641; File No. SR-Phlx-2026-33]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend Options 7,
Section 4
June 9, 2026.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on May 26, 2026, Nasdaq PHLX LLC (``Phlx'' or ``Exchange'') filed with
the Securities and Exchange Commission (``SEC'' or ``Commission'') the
proposed rule change as described in Items I, II, and III, below, which
Items have been prepared by the Exchange. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Options 7, Sections 4, Multiply
Listed Options Fees (Includes options overlying equities, ETFs, ETNs
and indexes which are Multiply Listed) (Excludes SPY and broad-based
index options symbols listed within Options 7, Section 5.A).\3\
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\3\ On May 1, 2026, the Exchange filed SR-Phlx-2026-28. On May
12, 2026, the Exchange withdrew SR-Phlx-2026-28 and filed this
proposal. On May 26, 2026, the Exchange withdrew SR-Phlx-2026-31 and
filed this proposal.
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The text of the proposed rule change is available on the Exchange's
website at <a href="https://listingcenter.nasdaq.com/rulebook/phlx/rulefilings">https://listingcenter.nasdaq.com/rulebook/phlx/rulefilings</a>,
and at the principal office of the Exchange.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
Phlx proposes to modify its Pricing Schedule at Options 7, Section
4 to: (1) increase the Non-Penny Symbol Floor Options Transaction
Charge \4\ for Lead Market Makers \5\ and Market Makers; \6\ and (2)
amend the Floor Broker \7\ Incentive Program to adopt a new Floor
Broker rebate and amend the Tier 4 rebate. Each change will be
described below.
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\4\ The term ``floor transaction'' is a transaction that is
effected in open outcry on the Exchange's Trading Floor. See Phlx's
Pricing Schedule at Options 7, Section 1(c).
\5\ The term ``Floor Lead Market Maker'' is a member who is
registered as an options Lead Market Maker pursuant to Options 2,
Section 12(a) and has a physical presence on the Exchange's Trading
Floor. See Phlx's Pricing Schedule at Options 7, Section 1(c).
\6\ The term ``Floor Market Maker'' is a Market Maker who is
neither an SQT or an RSQT. A Floor Market Maker may provide a quote
in open outcry. See Phlx's Pricing Schedule at Options 7, Section
1(c). The term ``Streaming Quote Trader'' or ``SQT'' is defined in
Options 1, Section 1(b)(54) as a Market Maker who has received
permission from the Exchange to generate and submit option
quotations electronically in options to which such SQT is assigned.
See Phlx's Pricing Schedule at Options 7, Section 1(c). The term
``Remote Streaming Quote Trader'' or ``RSQT'' is defined in Options
1, Section 1(b)(49) as a Market Maker that is a member affiliated
with an RSQTO with no physical trading floor presence who has
received permission from the Exchange to generate and submit option
quotations electronically in options to which such RSQT has been
assigned. A Remote Streaming Quote Trader Organization or ``RSQTO,''
which may also be referred to as a Remote Market Making Organization
(``RMO''), is a member organization in good standing that satisfies
the RSQTO readiness requirements in Options 2, Section 1(a). See
Phlx's Pricing Schedule at Options 7, Section 1(c).
\7\ The term ``Floor Broker'' means an individual who is
registered with the Exchange for the purpose, while on the Options
Floor, of accepting and handling options orders. See Phlx's Pricing
Schedule at Options 7, Section 1(c).
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First, the Exchange proposes to increase the Non-Penny Symbol Floor
Options Transaction Charge for Lead Market Makers and Market Makers.
Today, the Exchange assesses the following Non-Penny Floor Options
Transaction Charges: $0.00 for Customers \8\ and Professionals,\9\
$0.50 per contract for Lead Market Makers and Market Makers, $0.25 per
contract for Firms \10\ and Broker-Dealers.\11\ At this time, the
Exchange proposes to increase the Non-Penny Symbol Floor Options
Transaction Charges for Lead Market Makers and Market Makers from $0.50
to $1.00 per contract.
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\8\ The term ``Customer'' applies to any transaction that is
identified by a member or member organization for clearing in the
Customer range at OCC which is not for the account of a broker or
dealer or for the account of a ``Professional'' (as that term is
defined in Options 1, Section 1(b)(45)). See Phlx's Pricing Schedule
at Options 7, Section 1(c).
\9\ The term ``Professional'' applies to transactions for the
accounts of Professionals, as defined in Options 1, Section 1(b)(45)
means any person or entity that (i) is not a broker or dealer in
securities, and (ii) places more than 390 orders in listed options
per day on average during a calendar month for its own beneficial
account(s). See Phlx's Pricing Schedule at Options 7, Section 1(c).
\10\ The term ``Firm'' applies to any transaction that is
identified by a member or member organization for clearing in the
Firm range at The Options Clearing Corporation (``OCC''). See Phlx's
Pricing Schedule at Options 7, Section 1(c).
\11\ The term ``Broker-Dealer'' applies to any transaction which
is not subject to any of the other transaction fees applicable
within a particular category. See Phlx's Pricing Schedule at Options
7, Section 1(c).
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Second, the Exchange proposes to amend the Floor Broker Incentive
Program to pay a $0.20 per contract rebate for open outcry floor
executions that are contra a Lead Market Maker or Market Maker, in lieu
of any Floor
[[Page 35719]]
Broker Incentive Program rebate. Today, Floor Brokers are paid Floor
Broker Incentive Program rebates for transactions executed on the
trading floor, in open outcry \12\ based on qualifying volume at each
threshold level as set forth below.\13\
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\12\ The following transactions are not considered qualifying
volume: (1) dividend, merger, short stock interest, reversal and
conversion, jelly roll, and box spread strategy executions as
defined in this Options 7, Section 4; (2) Firm Floor Options
Transactions for members executing facilitation orders pursuant to
Options 8, Section 30 when such members are trading in their own
proprietary account (including Cabinet Options Transaction Charges);
and (3) Customer-to-Customer transactions.
\13\ Floor QCC Orders, as defined in Options 8, Section 30(e),
and electronic QCC Orders, as defined in Options 3, Section 12, are
considered qualifying volume but are not paid rebates based on the
above schedule, rather Floor QCC Orders and electronic QCC Orders
would are paid the QCC Rebates noted in Options 7, Section 4.
Additionally, Broker-Dealer Floor Options Transactions that are
capped pursuant to the Broker-Dealer Transaction Cap will be
considered qualifying volume but would not be paid rebates based on
the below schedule.
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Per contract Per contract
rebate rebate (non-
Qualifying contracts (customer on customer on
one side) both sides)
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Tier 1........................................ 0-500,000....................... $0.04 $0.10
Tier 2........................................ 500,001-5,000,000............... 0.07 0.18
Tier 3........................................ 5,000,001-10,000,000............ 0.09 0.18
Tier 4........................................ Greater than 10,000,000......... 0.10 0.22
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The Exchange proposes to decrease the Tier 4 Floor Broker Incentive
Program per contract rebate for Non-Customer on both sides from $0.22
to $0.20. While the Exchange's proposal decreases the Tier 4 rebate,
the Exchange believes that the proposed rebate would continue to
incentivize order flow to be brought to Phlx. Further, the rebate is
payable to the Floor Broker on contracts even if those contracts
qualified for the Broker-Dealer Transaction Cap.
The Exchange believes that the proposed $0.20 per contract Floor
Broker rebate for open outcry floor executions contra a Lead Market
Maker or Market Maker would further incentivize Floor Brokers to
participate in open outcry transactions. While the Exchange proposes to
increase the Non-Penny Options Transaction Charge for Lead Market
Makers and Market Makers, the increased transaction charge, taken
together with the proposed $0.20 Floor Broker rebate, should not
discourage Lead Market Maker or Market Makers from participating in
open outcry transactions, and should promote trading opportunities and
competition on the Trading Floor for all market participants.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\14\ in general, and furthers the objectives of
Sections 6(b)(4) and 6(b)(5) of the Act,\15\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility, and is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
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\14\ 15 U.S.C. 78f(b).
\15\ 15 U.S.C. 78f(b)(4) and (5).
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The Commission and the courts have repeatedly expressed their
preference for competition over regulatory intervention in determining
prices, products, and services in the securities markets. In Regulation
NMS, while adopting a series of steps to improve the current market
model, the Commission highlighted the importance of market forces in
determining prices and SRO revenues and, also, recognized that current
regulation of the market system ``has been remarkably successful in
promoting market competition in its broader forms that are most
important to investors and listed companies.'' \16\
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\16\ Securities Exchange Act Release No. 51808 (June 9, 2005),
70 FR 37496, 37499 (June 29, 2005) (``Regulation NMS Adopting
Release'').
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Likewise, in NetCoalition v. Securities and Exchange Commission
\17\ (``NetCoalition'') the D.C. Circuit upheld the Commission's use of
a market-based approach in evaluating the fairness of market data fees
against a challenge claiming that Congress mandated a cost-based
approach.\18\ As the court emphasized, the Commission ``intended in
Regulation NMS that `market forces, rather than regulatory
requirements' play a role in determining the market data . . . to be
made available to investors and at what cost.'' \19\
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\17\ NetCoalition v. SEC, 615 F.3d 525 (D.C. Cir. 2010).
\18\ See NetCoalition, at 534-535.
\19\ Id. at 537.
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Further, ``[n]o one disputes that competition for order flow is
`fierce.' . . . As the SEC explained, `[i]n the U.S. national market
system, buyers and sellers of securities, and the broker-dealers that
act as their order-routing agents, have a wide range of choices of
where to route orders for execution'; [and] `no exchange can afford to
take its market share percentages for granted' because `no exchange
possesses a monopoly, regulatory or otherwise, in the execution of
order flow from broker dealers'. . . .'' \20\ Although the court and
the SEC were discussing the cash equities markets, the Exchange
believes that these views apply with equal force to the options
markets.
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\20\ Id. at 539 (quoting Securities Exchange Act Release No.
59039 (December 2, 2008), 73 FR 74770, 74782-83 (December 9, 2008)
(SR-NYSEArca-2006-21)).
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The Exchange believes that the proposed $0.20 per contract Floor
Broker rebate for open outcry floor executions contra a Lead Market
Maker or Market Maker is reasonable because it will incentivize Floor
Brokers to direct additional open outcry orders to the Exchange,
thereby creating more trading opportunities on the Trading Floor for
all market participants, including Lead Market Makers and Market
Makers. Despite the proposed increase in the Non-Penny Options
Transaction Charge for Lead Market Makers and Market Makers, the
Exchange believes that increasing the Non-Penny Options Transaction
Charge for Lead Market Makers and Market Makers from $0.50 to $1.00
will not discourage active quoting and trading. The Exchange also
believes that the amount of the proposed Non-Penny Options Transaction
Charge for Lead Market Makers and Market Makers is reasonable, as it
remains within the range of fees set forth in the Pricing Schedule for
transactions by Lead Market Makers and Market Makers in Non-Penny
Symbols for electronic transactions that are assessed by NYSE Arca,
Inc. (``NYSE Arca'').\21\
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\21\ See NYSE Arca's Options Fees and Charges.
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The Exchange believes that the proposed changes are reasonably
designed to incentivize Floor Brokers
[[Page 35720]]
(and other participants on the Trading Floor) to increase the number of
open outcry orders sent to the Exchange. Any increase in trading volume
would create additional opportunities for Lead Market Makers, Market
Makers and other floor participants, attracting further order flow to
the Trading Floor and contributing to a deeper, more liquid market. The
proposed rebate is similar in structure to incentive programs for Floor
Brokers offered by NYSE Arca and NYSE American LLC.\22\
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\22\ NYSE Arca and NYSE American offer a floor broker rebate of
$0.20 for manual trades executed by a floor broker against a market
maker on the trading floor. The rebate is in lieu of any rebates
achieved via the manual billable rebate program. See NYSE Arca's
Options Fees and Charges and NYSE American's Options Fee Schedule.
Also, see, e.g., BOX Exchange Fee Schedule, Section V. Manual
Transaction Fees, available at <a href="https://boxexchange.com/assets/BOX-Fee-Schedule-as-of-January-22-2026.pdf">https://boxexchange.com/assets/BOX-Fee-Schedule-as-of-January-22-2026.pdf</a> (offering Floor Brokers that
submit QOO and FOO Orders a $0.20 per contract enhanced rebate for
executions that trade with a Floor Market Maker, in lieu of lesser
per contract rebates also available to Floor Brokers); MIAX Sapphire
Options Exchange, Section 1) c) Trading Floor Transactions,
available at <a href="https://www.miaxglobal.com/sites/default/files/fee_schedulefiles/MIAX_Sapphire_Fee_Schedule_01212026_b.pdf">https://www.miaxglobal.com/sites/default/files/fee_schedulefiles/MIAX_Sapphire_Fee_Schedule_01212026_b.pdf</a>
(providing for the ``Floor Broker Breakup Credit,'' a $0.20 credit
applicable to Floor Brokers that submit a QFO or cQFO for executions
that trade with a Floor Market Maker, instead of the $0.10 Floor
Broker rebate otherwise available).
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The Exchange further believes the proposal is reasonable because it
is designed to offset costs associated with the proposed Floor Broker
rebate through the increase to the Non-Penny Floor Options Transaction
Charge for Lead Market Makers and Market Makers. To the extent this
purpose is achieved, the Exchange believes that the proposed change
would not disincentivize Lead Market Maker or Market Maker activity on
the Trading Floor because increased order flow from Floor Brokers
seeking to earn the proposed rebate would result in more opportunities
to trade for all market participants. In addition, the Exchange notes
that market participants are free to conduct transactions on competing
venues instead if they believe other options markets offer more
favorable pricing.
To the extent the proposed rule change continues to attract greater
volume and liquidity by encouraging Floor Brokers to increase their
options volume on the Exchange in an effort to earn the proposed
rebate, the Exchange believes the proposed changes would improve the
Exchange's overall competitiveness and strengthen its market quality
for all market participants. Against the backdrop of the competitive
environment in which the Exchange operates, the proposed rule change is
a reasonable attempt by the Exchange to increase the depth of its
market and improve its market share relative to its competitors.
The Exchange's proposal to pay Floor Brokers the $0.20 per contract
rebate in lieu of any Floor Broker Incentive Program rebate, continue
to pay the rebate even if the transaction was subject to the Broker-
Dealer Transaction Cap, and also decrease the Tier 4 Floor Broker
Incentive Program per contract rebate for Non-Customer on both sides
from $0.22 to $0.20 is reasonable because it balances the new Floor
Broker rebate against the increased Non-Penny Floor Options Transaction
Charge while allowing for the availability of other incentives.
Further, despite the decrease to the Tier 4 rebate, the Exchange
continues to pay a greater Tier 4 rebate as compared to the Tier 1
through Tier 3 rebates. The Exchange believes that the proposed rebate
will continue to incentivize order flow to be brought to Phlx.
The Exchange believes that the proposed $0.20 per contract Floor
Broker rebate for open outcry floor executions contra a Lead Market
Maker or Market Maker is equitable and not unfairly discriminatory
because the proposed rebate is based on the amount and type of business
transacted on the Exchange, and participation in the rebate program is
voluntary; Floor Brokers may, but are not required to, pursue
qualifying volume. The Exchange also believes that the proposed change
is equitable and not unfairly discriminatory because it is designed to
balance costs associated with encouraging increased execution
opportunities on the Trading Floor, and an increase in such orders
would in turn enhance trading opportunities for all market
participants. In addition, the proposed Lead Market Maker and Market
Maker Non-Penny Options Transaction Charge of $1.00 is within the range
of fees currently applicable to transactions by Lead Market Makers,
Market Makers and other market participants in Non-Penny Symbols.\23\
The Exchange also believes that the proposed Floor Broker rebate is an
equitable allocation of fees and credits because it is intended to
support Floor Brokers' role in facilitating the execution of open
outcry orders, a function that benefits all market participants on the
Trading Floor.
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\23\ See NYSE Arca's Options Fees and Charges.
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Moreover, the proposal is designed to incentivize participation on
the Trading Floor in an effort to make the Exchange a primary execution
venue and to attract more open outcry transactions to the Trading
Floor. To the extent that the proposed change attracts more Floor
Broker orders to the Exchange, this increased order flow would continue
to make the Exchange a more competitive venue for, among other things,
order execution. Thus, the Exchange believes the proposed rule change
would improve market quality for all participants and attract
additional order flow, further enhancing market quality and price
discovery.
The Exchange believes it is not unfairly discriminatory to increase
the Non-Penny Floor Options Transaction Charge for Lead Market Makers
and Market Makers because the proposed change would apply in a uniform
manner to all Lead Market Maker and Market Maker orders. Incentivizing
order flow to the Trading Floor would enhance liquidity to the benefit
of all market participants. The Exchange also believes that the
proposed $0.20 rebate payable to Floor Brokers for an open outcry
transaction contra a Lead Market Maker or Market Maker is not unfairly
discriminatory because it would be available to all similarly situated
market participants on an equal and non-discriminatory basis. Further,
all Floor Brokers would qualify for the proposed rebate. The proposal
is intended to encourage the role performed by Floor Brokers in
facilitating the execution of orders via open outcry, a function which
the Exchange wishes to support for the benefit of all market
participants. In addition, although the proposed change would increase
the Non-Penny Options Transaction Charge applicable to Lead Market
Maker and Market Maker floor transactions, the Exchange notes that the
amount of the proposed fee is within the range of fees currently
applicable to transactions by Lead Market Makers, Market Makers and
other market participants in Non-Penny Symbols \24\ and believes that
Lead Market Makers and Market Makers would not be discouraged from
continuing to participate actively on the Trading Floor and would
benefit from increased open outcry order flow, including from Floor
Brokers seeking to earn the proposed rebate, as a result of the
proposed change. To the extent that this increased order flow attracts
order flow from other market participants to the Trading Floor, the
proposed rule change would improve market quality and promote
additional trading opportunities for all market participants on the
Exchange.
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\24\ See NYSE Arca's Options Fees and Charges.
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Finally, Lead Market Makers and Market Makers may transact with any
[[Page 35721]]
order flow that results from the increased incentive.
The proposals to pay Floor Brokers the $0.20 per contract rebate in
lieu of any Floor Broker Incentive Program rebate, continue to pay the
rebate even if the transaction was subject to the Broker-Dealer
Transaction Cap, and also decrease the Tier 4 Floor Broker Incentive
Program per contract rebate for Non-Customer on both sides from $0.22
to $0.20 are equitable and not unfairly discriminatory because they
would apply uniformly to all Floor Brokers.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. Rather, the Exchange believes
that the proposed changes would encourage the submission of additional
liquidity to the Trading Floor, thereby promoting market depth, price
discovery, and transparency, and enhancing order execution
opportunities for all market participants. As a result, the Exchange
believes that the proposed change furthers the Commission's goal in
adopting Regulation NMS of fostering integrated competition among
orders, which promotes ``more efficient pricing of individual stocks
for all types of orders, large and small.'' \25\ The proposal does not
impose an undue burden on inter-market competition. The Exchange
believes its proposal remains competitive with other options markets
and will offer market participants another choice of where to transact
options. The Exchange notes that it operates in a highly competitive
market in which market participants can readily favor competing venues
if they deem fee levels at a particular venue to be excessive, or
rebate opportunities available at other venues to be more favorable. In
such an environment, the Exchange must continually adjust its fees to
remain competitive with other exchanges. Because competitors are free
to modify their own fees in response, and because market participants
may readily adjust their order routing practices, the Exchange believes
that any burden on competition resulting from these pricing changes is
extremely limited.
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\25\ See Reg NMS Adopting Release, supra note 10, at 37499.
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Intra-market Competition
In accordance with Section 6(b)(8) of the Act, the Exchange does
not believe that the proposed rule change would impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. The proposed change is designed to attract
additional order flow to the Exchange. The Exchange believes that the
increase to the Non-Penny Floor Options Transaction Charge for Lead
Market Makers and Market Makers and the proposed Floor Broker rebate of
$0.20 per contract rebate for open outcry floor executions that are
contra a Lead Market Maker or Market Maker would encourage Floor Broker
open outcry flow and would not disincentivize Lead Market Maker or
Market Maker activity on the Trading Floor. Greater liquidity benefits
all market participants on the Exchange and increased order flow would
increase opportunities for execution of other trading interest. The
proposal would apply and be available to all similarly situated market
participants that execute open outcry on the Trading Floor, and,
accordingly, the proposed changes would not impose a disparate burden
on competition among market participants on the Exchange.
The Exchange believes the proposed rule change reflects this
competitive environment by modifying its pricing to continue
incentivizing Trading Floor participants to direct order flow to, and
provide liquidity to the Exchange. To the extent that Floor Brokers are
encouraged to utilize Phlx as a primary trading venue for all floor
transactions, all floor market participants stand to benefit from the
improved market quality and increased opportunities for price
improvement.
Finally, the proposals to pay Floor Brokers the $0.20 per contract
rebate in lieu of any Floor Broker Incentive Program rebate, continue
to pay the rebate even if the transaction was subject to the Broker-
Dealer Transaction Cap, and also decrease the Tier 4 Floor Broker
Incentive Program per contract rebate for Non-Customer on both sides
from $0.22 to $0.20 do not impose an undue burden on competition
because they would apply uniformly to all Floor Brokers.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\26\
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\26\ 15 U.S.C. 78s(b)(3)(A)(ii).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
<bullet> Use the Commission's internet comment form (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#abd9dec7ce86c8c4c6c6cec5dfd8ebd8cec885ccc4dd"><span class="__cf_email__" data-cfemail="047671686129676b6969616a7077447761672a636b72">[email protected]</span></a>. Please include
file number SR-Phlx-2026-33 on the subject line.
Paper Comments
<bullet> Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.
All submissions should refer to file number SR-Phlx-2026-33. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>). Copies of the filing will be available for inspection and
copying at the principal office of the Exchange. Do not include
personal identifiable information in submissions; you should submit
only information that you wish to make available publicly. We may
redact in part or withhold entirely from publication submitted material
that is obscene or subject to copyright protection. All submissions
should refer to file number SR-Phlx-2026-33 and should be submitted on
or before July 6, 2026.
[[Page 35722]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\27\
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\27\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-11816 Filed 6-11-26; 8:45 am]
BILLING CODE 8011-01-P
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