Nasdaq ISE delays implementation of auction mechanism rule change
ISE members receive an extended deadline - now on or before November 10 2026 - to adopt the auction and price-improvement rules originally slated for Q3 2026.
On August 21, 2026 Nasdaq ISE, LLC filed a proposed rule change identified as file number SR-ISE-2026-48 (Release No. 34-106185). The Securities and Exchange Commission published a notice of filing on August 25, 2026, announcing the Exchange's intent to amend the implementation date of the rule change previously adopted under SR-ISE-2026-18.
The Exchange seeks to move the implementation deadline from "on or before Q3 2026" to "on or before November 10, 2026." The extension is described as necessary to complete technology development and testing; the substantive content of SR-ISE-2026-18 remains unchanged.
Pursuant to Section 19(b)(3)(A)(iii) of the Securities Exchange Act of 1934 and Rule 19b-4(f)(6), the proposed rule change became effective immediately upon filing. The Commission retains the authority to temporarily suspend the change within 60 days of filing if it deems such action necessary in the public interest or for investor protection.
The Commission invites written comments on the proposal, with a deadline of September 18, 2026. Submissions may be made electronically via the SEC's internet comment form or by email, referencing file number SR-ISE-2026-48, or in paper form sent in triplicate to the SEC's Secretary.
The Exchange states that the delayed implementation imposes no additional burden on competition, applying uniformly to all members and leaving inter-market competition unaffected.
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