27 Jun 2025
⏲️Cboe BYX Exchange Proposes Amendment on Timestamp Compliance
Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 4.10 of the Exchange's Compliance Rule To Be Consistent With the Exemptive Relief Granted by the Commission From Certain Provisions Related to Timestamp Granularity
Summary
Cboe BYX Exchange has filed a proposed rule change to extend the timestamp granularity exemption under the CAT NMS Plan. The amendment updates compliance rules to allow the truncation of timestamps, instead of rounding them, for submissions until April 8, 2030, impacting regulatory obligations for trading firms.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change by Cboe BYX Exchange extends the exemption period for timestamp granularity compliance under the CAT NMS Plan, allowing firms that use timestamps more granular than nanoseconds to truncate, not round, data submissions until 2030. This affects compliance and operational practices for industry members, impacting their reporting and technical strategies.