Nasdaq Texas adds intra-day snapshots to NTX Options Trade Outline
The rule change, filed Aug. 11, 2026 and effective immediately, lets customers receive market-sentiment updates whenever qualifying trades occur.
On August 11, 2026 Nasdaq Texas, LLC filed a proposed rule change under Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 (Release No. 34-106176; File No. SR-NasdaqTX-2026-036). The filing, announced in a notice on August 24, 2026, seeks immediate effectiveness of a product enhancement that adds Intra-Day Snapshots to the NTX Options Trade Outline.
Intra-Day Snapshots are an optional delivery mechanism that will provide aggregated market-sentiment information whenever two or more trades involving three or more origin types - Customers, Broker-Dealers, NTX Options Market Makers, Firms, and Professionals - occur within a regular 1-minute interval beginning at 9:30 a.m. Trades that do not meet this threshold will be reported at the end of the 1-minute interval. The change supplements the existing 10-minute interval updates and end-of-day and historical formats currently offered with Trade Outline.
The Exchange describes the enhancement as a response to participant demand for more frequent sentiment data and positions it as more efficient than the 1-minute interval updates offered by competitor exchanges, which post on a fixed schedule regardless of activity. By reporting only when multiple participants trade in the same series, the snapshots aim to preserve participant anonymity while delivering timely insight into shifts in market sentiment.
Nasdaq Texas notes that the product is voluntary; subscribers may purchase the Intra-Day Snapshots, retain the existing 10-minute reports, or opt out entirely. The Exchange will issue a public notice announcing the implementation date no later than 30 days after the operative date of this filing.
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