SEC grants temporary effect to amendment shifting consolidated price time to 7:30 p.m.
The joint industry plan participants, including Nasdaq and major exchanges, must use a 7:30 p.m. ET consolidated price starting Dec 6 2026, pending comment.
On October 7, 2026, the Securities and Exchange Commission issued Release No. 34-106624, File No. 4-631, ordering Amendment No. 29 to the National Market System Plan to be effective on a temporary basis not to exceed 120 days. The amendment moves the Consolidated Price reference time from 7:45 p.m. Eastern Time to 7:30 p.m. Eastern Time.
The amendment was filed on September 16, 2026 by Nasdaq, Inc. on behalf of the Plan participants, which include the major U.S. exchanges and alternative trading venues. It is intended to align the consolidated price snapshot with current Alternative Trading System practice and to provide an operational window for calculating and disseminating overnight price bands ahead of the 8:00 p.m. to 9:00 p.m. ATS session.
The Commission found, under Rule 608(b)(4) of Regulation NMS, that summarily implementing the amendment serves the public interest, protects investors, and maintains fair and orderly markets. The change is expected to reduce operational risk and avoid late system modifications as participants prepare for Phase 1 of overnight protections.
The participants anticipate that Amendment No. 29 will become operative on December 6, 2026, subject to completion of system changes for the UTP and CTA Plans. The notice solicits comments from interested persons on the proposed amendment.
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