Exchange Scrubs Rules for Order-Entry Protocol It Never Launched
Published Date: 11/12/2026
Notice
Summary
Nasdaq PHLX is officially wiping out all mentions of the CORE FIX order entry protocol from its rules because the plan to launch it got pushed back and now won’t happen. This change affects traders and firms using the Exchange’s system, but there’s no cost impact or new deadlines to worry about. The update is effective immediately, keeping things clear and simple for everyone.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
CORE FIX References Deleted
On October 30, 2026, Nasdaq PHLX filed a rule change to remove all references to the CORE FIX order entry protocol from Equity 4. The deleted references are located in Equity 4, Rules 3100, 3301A, 3301B, and 3307, and the Exchange states it is abandoning plans to deploy CORE FIX because Participants showed no interest.
Existing Protocols Remain Available
The Exchange will continue to offer the existing order entry protocols OUCH, RASH, FLITE, and FIX and says the rule change will not alter the operation of the market, the treatment of orders, or the rights or obligations of Participants. The filing was submitted on October 30, 2026 and became effective upon filing.
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