13 May 2025
📈Cboe BYX Exchange Proposed Rule Change on Auction Orders
Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Exchange Rule 11.25(e) To Allow Users To Utilize the Exchange's Match Trade Prevention Functionality When Entering Periodic Auction Orders Onto the Exchange for Execution
Summary
The SEC has announced a notice regarding a proposed rule change from Cboe BYX Exchange, allowing users to employ Match Trade Prevention functionality for auction orders. This change will improve the handling of such orders in both active and inactive auction scenarios, with the SEC designating an extended period for thorough consideration of the proposal.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The content discusses a proposed rule change by the Cboe BYX Exchange regarding trading functionality, impacting compliance and operational strategies for users (e.g., traders and firms) who utilize auction orders. Businesses must be aware of the potential regulatory changes that could affect trading practices directly.