# 2026-22260: NYSE Texas Rebrands Permit Holders, Then Rewrites Its Board Rules

2026-22260, Self-Regulatory Organizations; NYSE Texas, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Bylaws of the Exchange, is a Federal Register notice from Securities and Exchange Commission published 2026-11-02, effective 2026-10-15; PRIA reads it as touching household money (as of 2026-11-04).

- Canonical: https://policyrisk.com/federal-register/2026-22260
- As of: 2026-11-04
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-22260
- Title: Self-Regulatory Organizations; NYSE Texas, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Bylaws of the Exchange
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 69005
- Published: 2026-11-02
- Effective: 2026-10-15
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-11-04

## In one line

NYSE Texas Rebrands Permit Holders, Then Rewrites Its Board Rules

## Summary

NYSE Texas is updating its bylaws to swap out the term “Permit Holders” for “Participants,” clarify who counts as a Participant, and remove the rule that a fair representation director must be a Participant. These changes affect how the Exchange’s leadership is chosen but don’t impact fees or timing. The updates are effective immediately, making the Exchange’s rules clearer and more flexible for everyone involved.

## Effects PRIA read

- Non‑trading members can participate: benefit, low. The Exchange replaced the term “Permit Holders” with “Participants” so that all members under the Exchange Act — including Limited Underwriting Members (added by the Exchange on February 26, 2026) who do not hold trading permits — are treated as Participants for purposes of selecting Non‑Affiliated…
- Clearer single definition of Participant: benefit, low. The Exchange consolidated and changed the definition of “Participant” to mean “any member as defined in the Exchange Act,” removing the prior permit‑holder‑based definition and the cross‑reference to Section 3 of the Exchange Act. The definition change is moved into Article II and removed from Arti…
- Nominating Committee can name non‑Participants: benefit, low. The Nominating Committee no longer must publish a Participant as its nominee and may name any individual as a nominee for Non‑Affiliated Director, including persons who are not currently Participants. The existing petition and voting mechanics remain: a petition by at least 10% of Participants with…
- Fair‑representation director need not be a Participant: benefit, low. The bylaws remove the requirement that the fair representation (Non‑Affiliated) director be a Participant, so such directors may now be individuals who are not Participants. This aligns the Exchange’s rules with affiliate exchanges that do not require member status for these director roles.

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- [2026-18424](https://policyrisk.com/federal-register/2026-18424): Political Contributions by Certain Investment Advisers, 2026-09-10
- [2026-18190](https://policyrisk.com/federal-register/2026-18190): Transfer Agent Rules, 2026-09-04
- [2026-17183](https://policyrisk.com/federal-register/2026-17183): Regulation Crypto Assets, 2026-08-21

## Sources
- [2026-22260 on federalregister.gov](https://www.federalregister.gov/documents/2026/11/02/2026-22260/self-regulatory-organizations-nyse-texas-inc-notice-of-filing-and-immediate-effectiveness-of)
- [2026-22260 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-11-02/pdf/2026-22260.pdf)

## Related
- [Previous: 2026-22259, Self-Regulatory Organizations; National Securities Clearing Corporation; Notice…](https://policyrisk.com/federal-register/2026-22259)
- [Next: 2026-22261, Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and I…](https://policyrisk.com/federal-register/2026-22261)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-22260 (as of 2026-11-04).