Nasdaq Texas Refines Pro Order Reviews—Standard Stuff
Published Date: 4/20/2026
Notice
Summary
Nasdaq Texas is changing how it reviews Professional orders—those placed by big traders who aren’t brokers or dealers. This update tweaks the quarterly checkup process to keep things fair and clear. The new rules kicked in right away on April 1, 2026, so traders should pay attention to how their orders get reviewed and marked.
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Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Faster reclassification for high‑volume traders
If you are a non‑broker/dealer customer who averages more than 390 orders per day in any calendar month, your orders must be marked as Professional for the next calendar month. Under the change, Participants must switch the representation within five days after the end of each calendar month (previously done on a quarterly basis); the Exchange proposes to implement this change on July 1, 2026 (technical amendments become operative 30 days after filing).
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