SRO Monitor Digest

All major U.S. equity exchanges and FINRA, including IEX, are jointly proposing to extend the consolidated tape's operating hours to nearly 24/5 (9pm ET Sunday through 8pm ET Friday with a nightly one-hour pause) to support extended-hours equity trading targeted for a December 6, 2026 launch. The two filings cover the parallel processors asdaq-listed UTP Plan (index 0) and the CTA Plan/CQ Plan for other securities (index 1), with the CTA notice specifically flagging cost allocation among participants. In both cases the SEC is instituting proceedings urther review the proposals rather than approving or rejecting them, a procedural step that keeps approval plausible given industry consensus but signals the SEC wants more time; nothing changes until approval and market-readiness conditions (including DTCC clearing support) are met.

NYSE is amending its rules to allow eligible member firms to trade tokenized versions of Russell 1000 stocks and major-index ETFs on its existing order book, as part of a three-year DTC pilot program authorized by a December 2025 SEC staff no-action letter. This filing took effect automatically without requiring full SEC approval (a procedural path available for non-controversial rule changes), meaning NYSE can operationally launch tokenized securities trading as soon as DTC finishes building the supporting infrastructure — though the SEC retains the right to suspend it within 60 days if concerns arise. In practice, nothing changes immediately for most market participants, but this sets NYSE up to offer blockchain-based settlement alongside traditional settlement on the same order book, mirroring a rule change Nasdaq already had approved in March 2026.