NYSE Texas rewrites bylaws to give non-trading members a vote on directors
NYSE Texas has filed an immediately effective bylaw change that widens who may nominate and elect its fair-representation directors. The trigger is a new membership class, Limited Underwriting Members, that holds no trading permit. The filing swaps the defined term 'Permit Holders' for 'Participants' and frees the Nominating Committee to name non-member candidates. It matters to anyone tracking exchange governance mechanics and the SEC's fair-representation requirement.
- The bylaws replace 'Permit Holders' with 'Participants' in Article II Sections 1, 2 and 3, Article IV Section 7 and Article IX Section 1, extending director-selection rights to all Exchange Act members.
- The change responds to Limited Underwriting Members, a non-trading membership class added under SR-NYSETex-2026-06, who are members but hold no trading permit.
- The Nominating Committee will no longer be limited to naming a current Participant and may nominate any individual of its choice as Non-Affiliated Director.
- The filing is immediately effective under Rule 19b-4(f)(6); written comments are due on or before November 23, 2026.
- NYSE Texas says the amendments align its bylaws with affiliates NYSE LLC and NYSE American LLC, and with Nasdaq and CBOE BYX practice.