Texas exchange auctions off UTP securities openings—bid meh.
Published Date: 9/8/2026
Notice
Summary
No summary available.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
TXSE May Run Opening and Closing Auctions
If you trade securities, the Texas Stock Exchange (TXSE) can run its 9:30 a.m. ET Opening Auction and 4:00 p.m. ET Closing Auction in UTP securities when the Exchange designates them for those auctions. Designated UTP securities will participate in the Exchange's existing scheduled auctions at those times and use the same auction procedures TXSE already uses.
TXSE Market-Center Prices Won't Replace Primary Market Prices
If TXSE's Opening or Closing Auction in a designated UTP security produces a trade, that price will be TXSE's market-center opening or closing price and will be sent to the consolidated tape. TXSE's market-center opening or closing price for a UTP security will not displace or alter the official opening or closing price set by the security's primary listing market.
Certain Auctions Not Allowed for UTP Securities
TXSE will not allow IPO Auctions, Halt Auctions, or Volatility Closing Auctions for UTP securities; those auction types remain unavailable on TXSE for securities that are not TXSE-listed.
Rule Change Operative Immediately Upon Filing
The Commission waived the 30-day operative delay and made the rule change operative upon filing, which was filed on August 31, 2026. That means TXSE may implement the ability to designate UTP securities for its Opening and Closing Auctions immediately after filing and giving reasonable advance notice to Members.
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