MRX Market Makers Get Obligation Overhaul Alert
Published Date: 8/13/2026
Notice
Summary
No summary available.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Aggregate PMM and Preferred MM Quoting
If you serve as a Primary Market Maker (PMM) or a Preferred Market Maker for the same Member, the Exchange will count your quotes together toward the 90% continuous two-sided quotation requirement instead of tracking those roles separately. This change takes effect on September 1, 2026 and is intended to remove duplicative compliance and operational tracking for the same Member.
Competitive Market Makers Left Unchanged
If you are a Competitive Market Maker (CMM), your quoting obligation remains separate and unchanged: you must provide two-sided quotations in 60% of the cumulative number of seconds (or such higher percentage as MRX may announce). If a Member is both a CMM and a PMM in the same options series, the Member will continue to be held to the PMM and CMM quoting obligations separately.
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Key Dates
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Next: 2026-16459, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Market Maker Quotation Obligations