Joint Industry Plan; Order Granting Approval of the Twenty-Seventh Amendment to the National Market System Plan To Address Extraordinary Market Volatility To Establish Temporary Price Band Protections in Overnight Trading

ase No. 34-106042; File No. 4-631] Joint Industry Plan; Order Granting Approval of the Twenty- Seventh Amendment to the National Market System Plan To Address Extraordinary Market Volatility To Establish Temporary Price Band Protections in Overnight Trading August 5, 2026. I. Introduction On May 27, 2026, Nasdaq, Inc., on behalf of the following parties to the Plan to Address Extraordinary Market Volatility (``Plan'' or ``LULD Plan'') Pursuant to Rule 608 of Regulation NMS under the Securities Exchange Act of 1934 (``Act'' or ``Exchange Act''): \1\ 24X National Exchange LLC, Cboe BZX Exchange, Inc., Cboe BYX Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Financial Industry Regulatory Authority, Inc., Investors Exchange LLC, Long-Term Stock Exchange, Inc., MEMX LLC, MIAX PEARL, LLC, Nasdaq Texas LLC, Nasdaq PHLX LLC, New York Stock Exchange LLC, NYSE American LLC, NYSE Arca, Inc., NYSE Texas, Inc., NYSE National, Inc., and The Nasdaq Stock Market LLC (collectively, ``Participants''), filed with the Securities and Exchange Commission (``Commission'') pursuant to Section 11A(a)(3) of the Exchange Act \2\ and Rule 608 thereunder,\3\ a proposal to amend the Plan (``Amendment No. 27'').\4\ Amendment No. 27 proposes to establish phased price band protections to overnight trading (``Overnight Protections'') in anticipation of overnight trading by certain national s