NYSE Texas Gets Nod for Easier ETF Trading Rules
Published Date: 4/13/2026
Notice
Summary
NYSE Texas just got the green light to let more types of Class Exchange-Traded Fund (ETF) shares be listed and traded on their platform. This change makes it easier and faster for investors to buy and sell these ETFs starting right away, with no extra costs. Basically, if you trade ETFs, this update opens up more options and smoother trading on NYSE Texas.
Analyzed Economic Effects
5 provisions identified: 4 benefits, 1 costs, 0 mixed.
Generic Listing of Class ETF Shares
NYSE Texas adopted new Rule 5.2(j)(9) to permit the generic listing and trading of Class Exchange-Traded Fund (Class ETF) Shares. If a Class ETF meets the rule's listing standards and the conditions of Rule 19b-4(e) and Rule 6c-11, it may be listed and traded on NYSE Texas without a separate Commission approval order.
Delisting and Holder Thresholds
NYSE Texas may suspend trading or start delisting Class ETF Shares if listing requirements are not met. Specific triggers include: after the initial 12-month period following commencement of trading, if there are fewer than 50 beneficial holders of the Class ETF Shares, or if the ETF Class or Multi-Class Fund no longer complies with the Multi-Class Fund Exemptive Relief or Rule 6c-11.
Surveillance, Halts, and Disclosure Rules
The Exchange must implement written surveillance procedures for Class ETF Shares, and may halt trading under Rule 7.12 or other market conditions. Trading may be halted if net asset value or daily portfolio disclosures are not made available to all market participants at the same time, if index/reference asset dissemination is interrupted, or if trading in underlying securities is halted.
Firewalls and MNPI Safeguards Required
For index-based Class ETF Shares and actively managed Multi-Class Funds, the rule requires firewalls and procedures to prevent the use or dissemination of material non-public information (MNPI). If an index is maintained by a broker-dealer or fund adviser, the index must be calculated by a third party and personnel with access to changes must be firewall-protected.
Class ETF Shares Treated as Equity Securities
The Exchange treats Class ETF Shares as equity securities, adds them to the definition in Rule 1.1(k), and applies the full set of Exchange rules that govern equity trading. ETP Holder obligations, including product description and prospectus delivery requirements, remain applicable.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026, because changes could affect how audits are done and funded.
2026-09742 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule To Adopt a New Fee Code for Market-Maker Complex Orders Executed on the Complex Order Book That Add Liquidity in Penny Program Securities and To Amend Its Orders Submitted With a Designated Give Up Program
Starting May 1, 2026, Cboe BZX Exchange is updating its fees to add a new code for Market-Maker Complex orders that add liquidity in penny stocks. They’re also tweaking rules for orders using a special Give Up program. These changes mainly affect market makers and traders using complex orders, aiming to make fees clearer and trading smoother.
2026-09745 — Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for May 1, 2026 Through December 31, 2026
Starting May 1, 2026, MEMX is charging industry members a tiny fee of $0.000001 per share to help cover the costs of the Consolidated Audit Trail (CAT) system through the end of the year. This fee supports tracking stock trades better and will show up on invoices starting June 2026. If you’re a broker or part of the trading world, get ready to chip in for smoother market oversight!
2026-09728 — Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Establish Fees for Industry Members Related to Certain Historical Costs of the National Market System Plan Concerning the Consolidated Audit Trail
MEMX is setting new fees for industry members to cover leftover historical costs from the National Market System’s Consolidated Audit Trail, which tracks stock trades. These fees, called Historical CAT Assessment 1A, will collect about $39 million that wasn’t billed before. The change is effective immediately, so affected members should get ready to pay soon!
2026-09736 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
Nasdaq PHLX is setting new fees for industry members to cover leftover historical costs from the National Market System Plan for the Consolidated Audit Trail. These fees, called Historical CAT Assessment 1A, will collect about $39 million for costs before 2022 that weren’t billed before. The fees start right away and will be charged per share traded, helping keep the audit trail running smoothly.
2026-09734 — Self-Regulatory Organizations; Nasdaq Texas, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
Nasdaq Texas is setting new fees to cover leftover historical costs from the National Market System Plan for the Consolidated Audit Trail. Industry members who trade on the exchange will pay these fees starting soon to help cover about $39 million in past expenses not yet billed. This update keeps the system fair and funded without surprises!
Previous / Next Documents
Previous: 2026-07035 — Emergency Medical Services for Children Data Center (EDC)
The Health Resources and Services Administration is giving the University of Utah an extra $1.6 million to keep running the Emergency Medical Services for Children Data Center for one more year, from July 2026 to June 2027. This extension helps hospitals and emergency teams across the country stay ready to care for kids in emergencies. It keeps important data collection going without interruption, making sure kids get the best emergency care possible.
Next: 2026-07037 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, To Exchange Rules 4.3 (Criteria for Underlying Securities) and 4.4 (Withdrawal of Approval of Underlying Securities) To Establish Listing Criteria and Withdrawal Standards for Options on Commodity-Based Trusts Holding Multiple Crypto Assets
Cboe Exchange just got the green light to list options on special trusts that hold multiple cryptocurrencies, not just one. This change affects investors and traders by setting clear rules for which crypto-based trusts can be listed and when they can be removed. The new rules kick in soon, making it easier and safer to trade options tied to a basket of crypto assets.