MIAX Aligns Rules With Amended CTA/CQ Plan
Published Date: 6/23/2026
Notice
Summary
MIAX PEARL is updating its rules to include new definitions and ideas from a big industry plan called the Amended CTA/CQ Plan. They’re also cleaning up and reorganizing an existing rule to make things clearer and easier to follow. These changes take effect right away and mainly affect traders and firms using MIAX PEARL’s platform, with no new fees or costs announced.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 0 costs, 1 mixed.
Halt Rules Harmonized Across SROs
MIAX Pearl is adopting new rules (Rules 2627 and 2628) that incorporate definitions and concepts from the Amended CTA/CQ Plan and reorganize current Rule 2622. The change is intended to make halt and resumption procedures more consistent across U.S. equity exchanges.
Primary Market Controls Halt Start Time
The Exchange will honor Regulatory Halts declared by the Primary Listing Market and treats the official start time of a Regulatory Halt as the time the Primary Listing Market declares it. This fixed start time is intended to give certainty for reviewing trades that occurred before halt notices reached all venues.
SIP Outage Resume Rules Set
MIAX Pearl adds the category of a "SIP Halt" and adopts defined resumption rules tied to a SIP Halt Resume Time. During Regular Trading Hours the Exchange may resume trading after the Primary Listing Market resumes or notifies that trading may resume; outside Regular Trading Hours the Exchange may resume trading immediately after the SIP Halt Resume Time.
Operational Halts Defined for MIAX Pearl
The Exchange defines "Operational Halts," which are halts that apply only to MIAX Pearl and are discretionary. MIAX Pearl may declare an Operational Halt for Extraordinary Market Activity on the Exchange or when necessary to maintain a fair and orderly market.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
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!
2026-16101, Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the NYSE American Options Fee Schedule To Amend the Manual Billable Rebate Program and Add a Credit Under the Firm Monthly Fee Cap
Starting August 3, 2026, NYSE American is updating its options fee schedule to rename and tweak the Manual Billable Program, swapping some rebates for a new bonus. They’re also adding a credit for Floor Brokers under the Firm Monthly Fee Cap, which could save some firms money. These changes mainly affect traders and firms using the Exchange’s options services.
2026-16086, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 15g-2
Previous / Next Documents
Previous: 2026-12526, Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Order Granting Approval of a Proposed Rule Change To Amend MSRB Rule G-12(c) To Codify and Retire or Revise Certain Existing Interpretive Guidance on Confirmation Requirements for Those Inter-Dealer Municipal Securities Transactions That are Ineligible for Automated Comparison
The Municipal Securities Rulemaking Board (MSRB) is updating Rule G-12 to simplify and clarify how dealers confirm certain municipal securities trades that can’t be checked automatically. This change affects brokers and dealers by retiring old confusing guidance and making the rules clearer. The new rules will kick in within a year, with no extra costs expected.
Next: 2026-12528, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Delete Obsolete Rule Text Regarding the Now-Completed Tick Size Pilot
Nasdaq PHLX is cleaning house by deleting old rules about the Tick Size Pilot, a test that ended years ago. This change affects traders and market participants by removing outdated info, making the rulebook clearer and easier to use. The update took effect immediately on June 10, 2026, with no impact on fees or trading costs.