The CT Plan's Third Amendment limits how much more market data revenue an exchange can earn from quoting than from trading. The operating committee pointed to quote-to-trade ratios of more than 100:1 at one exchange.
The relief would let 24X run its 9:00pm–4:00am ET session without consolidated quotes, but only from 24 January 2027 and only if the SIPs are not ready by 6 December. It ends when the SIPs go live, or on 2 July 2027 at the latest.
Amendment No. 27 to the Limit Up-Limit Down Plan sets static bands for overnight trading in NMS stocks, with no automatic pauses. A listing exchange can halt a stock for the rest of the night, and a second phase is to follow once there is data.
