📉Cboe BZX Proposed Rule Changes for Late Limit-On-Close Orders
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend Rule 11.23
Summary
The Securities and Exchange Commission published a notice regarding Cboe BZX Exchange's proposed amendments to order pricing rules for Late-Limit-On-Close and Limit-On-Close orders. These changes aim to streamline the Closing Auction process and reduce volatility by allowing adjustments to order prices and altering submission times, benefitting market participants.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The regulatory text discusses proposed amendments that change how Late-Limit-On-Close (LLOC) and Limit-On-Close (LOC) orders are priced and submitted, directly impacting trading strategies and potentially reducing market volatility for businesses involved in securities trading. This constitutes compliance with new rules which can significantly affect operational processes.