20 Mar 2025
📈Cboe BYX Exchange's Enhanced RPI Order Proposal
Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing of a Proposed Rule Change Relating To Modify Rule 11.24 To Introduce an Enhanced RPI Order and Expand Its Retail Price Improvement Program To Include Securities Priced Below $1.00
Summary
The Cboe BYX Exchange proposes an Enhanced Retail Price Improvement Order to enhance its Retail Price Improvement program, allowing for greater price improvement for retail investors and expanding the program to include securities priced below $1.00. This aims to attract more retail orders and improve execution pricing.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change by Cboe BYX Exchange introduces the Enhanced RPI Order, benefiting retail investors by allowing for greater price improvement on securities, thus potentially increasing trading volume on the exchange and affecting liquidity providers’ strategies. Compliance with regulatory standards is also emphasized.