📊Cboe EDGA Proposes Rule Change on Timestamp Granularity
Self-Regulatory Organizations; Cboe EDGA 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
The Cboe EDGA Exchange has filed a proposed rule change to amend its compliance rule regarding timestamp granularity. The amendment extends the expiration date of an exemptive relief from April 2025 to April 2030, affecting how timestamps are handled for reporting to the Consolidated Audit Trail (CAT). The change aims to ensure consistency with regulatory requirements while addressing operational procedures for Industry Members.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change amends Rule 4.10 of the CAT Compliance Rule, extending the timestamp granularity exemption to 2030. This impacts Industry Members' compliance obligations, affecting operational costs and reporting practices as they must truncate rather than round timestamps. Businesses involved in securities trading must ensure their systems are compliant with these updated regulations.