Federal Register #SR-CBOE-2025-074

SEC Approval of Cboe Exchange Rule Change for Auction Response Processing

This notice announces a regulatory action by the Securities and Exchange Commission (SEC) regarding Cboe Exchange, Inc.'s proposed rule change for auction response processing. - Government Buyer: - Securities and Exchange Commission (SEC) is the overseeing agency and regulator - OEMs and Vendors: - Cboe Exchange, Inc. is the only organization mentioned - Products/Services Requested: - No products or services are being procured; this is a regulatory change - The rule change increases the maximum processing time for auction responses in non-FLEX classes to 1000 milliseconds - This aligns processing times with those for non-FLEX SPX options - Unique or Notable Requirements: - The change is intended to improve execution opportunities and price improvement for investors - Addresses message queue delays and maintains market integrity and competition - No procurement or acquisition of goods/services is involved; this is a technical adjustment to exchange operations

Description

This notice announces the filing of Amendment No. 1 and the granting of accelerated approval by the Securities and Exchange Commission for a proposed rule change by Cboe Exchange, Inc. The amendment modifies and supersedes the original proposal to amend the exchange's functionality related to processing auction responses. The change aims to increase the maximum processing time for auction responses in non-FLEX classes to improve execution opportunities and price improvement for investors, while maintaining market integrity and competition.

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