NASDAQ OMX PHLX LLC Filing Proposed Rule Change to Address Counterparty Size in Qualified Contingent Cross Orders

Summary

NASDAQ OMX PHLX LLC has submitted a proposed rule change to modify rules 1064 and 1080 to better address the number and size of counterparties participating in qualified contingent cross orders, a type of market order that allows for the simultaneous execution of multiple trades with different counterparties.