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Notice Rule

Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Adopt a New Selective Liquidity Auto Purge (“SLAP”) Feature

National Securities Exchanges, MIAX SAPPHIRE, LLC (SAPPHIRE)

Public Comments

Submit a Comment on SR-SAPPHIRE-2025-42

Last Reviewed or Updated: Dec. 16, 2025

Resources

Notice Rule: SEC Issued Version (pdf 195.33 KB)

Exhibit 5

Details

Public Comments Due

Jan. 6, 2026

File Number

SR-SAPPHIRE-2025-42

Rule Type

Notice

Release Number

34-104372

SEC Issue Date

Dec. 11, 2025

Rules & Regulations

Enforcement & Litigation

Compliance

Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Adopt a New Selective Liquidity Auto Purge (“SLAP”) Feature

Public Comments

Resources

Details

More in this Section

Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Adopt a New Selective Liquidity Auto Purge (“SLAP”) Feature

Public Comments

Resources

Details