# 2026-12260: Exchange Tweaks Market-Maker Registration Rules

2026-12260, Self-Regulatory Organizations; Long-Term Stock Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend its Rules Related to Market Makers, is a Federal Register notice from Securities and Exchange Commission published 2026-06-18; PRIA reads it as touching household money (as of 2026-06-25).

- Canonical: https://policyrisk.com/federal-register/2026-12260
- As of: 2026-06-25
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-12260
- Title: Self-Regulatory Organizations; Long-Term Stock Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend its Rules Related to Market Makers
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 36919
- Published: 2026-06-18
- Effective: unknown
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-25

## In one line

Exchange Tweaks Market-Maker Registration Rules

## Summary

The Long-Term Stock Exchange (LTSE) wants to update its rules for Market Makers—those who help keep trading smooth and steady. They’re adding clear definitions, setting up a new registration system, and creating fresh responsibilities for Market Makers and their traders. These changes aim to make trading fairer and more organized, with no big cost changes expected, and they’re open for public comments now.

## Effects PRIA read

- New Firm-Level Market Maker Registration: cost, medium. If your firm wants Market Maker status on LTSE, you must file a written application on an Exchange-prescribed form and meet review factors such as capital, operations, personnel, technical resources, and disciplinary history. Each Market Maker must have and maintain minimum net capital at least equ…
- Firm Duties: Continuous Quoting & Supervision: cost, medium. Registered Market Makers must engage in a course of dealings to help keep markets fair and orderly, including maintaining continuous two-sided quotations, staying in compliance with Exchange rules, notifying the Exchange of material financial or operational changes, keeping an updated list of Marke…
- Assigned Market Maker (AMM) Program Added: cost, medium. LTSE may appoint Members registered as Market Makers to be Assigned Market Makers (AMMs) for Non-LTSE-Primary-Listed Securities and require enhanced market-quality responsibilities, including maintaining continuous two-sided quotations in assigned securities. Eligibility requires being a Market Mak…
- Individual Trader (MMAT) Registration & Training: cost, low. Individuals who act as Market Maker Authorized Traders (MMATs) must be registered by the sponsoring Market Maker on an Exchange-prescribed form and may only enter orders for that Market Maker's account. MMATs must complete proficiency examinations and continuing education required under LTSE Rule 2…
- Security-Level Market Maker Registration Process: cost, low. After firm-level registration, a Market Maker must file a security registration form to be authorized in specific securities; registration in a security becomes effective on the same day as Exchange approval. In reviewing security-level registrations, LTSE may consider factors such as financial res…

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## Sources
- [2026-12260 on federalregister.gov](https://www.federalregister.gov/documents/2026/06/18/2026-12260/self-regulatory-organizations-long-term-stock-exchange-inc-notice-of-filing-of-a-proposed-rule)
- [2026-12260 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-06-18/pdf/2026-12260.pdf)

## Related
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- [Next: 2026-12261, Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediat…](https://policyrisk.com/federal-register/2026-12261)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-12260 (as of 2026-06-25).