Federal Register #SR-CboeBZX-2026-019

SEC Reviews Cboe BZX Exchange Proposal for Optional Clock Synchronization Service

This opportunity involves a proposed rule change by Cboe BZX Exchange, Inc. to introduce a new optional Clock Service for time synchronization, with the Securities and Exchange Commission (SEC) as the government buyer. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - Cboe BZX Exchange, Inc. (primary vendor) - Products/Services Requested: - Clock Service for Time Synchronization - Allows members and non-members to synchronize internal time recording systems with the Exchange's clocks - Utilizes advanced technologies: White Rabbit and Precision Time Protocol (PTP) - Includes a dedicated 1 Gbps physical port (not for order routing or other uses) - No specific part numbers or purchase quantities listed - Unique or Notable Requirements: - Service is voluntary and available to all interested parties - Designed for highly precise and correlated latency measurements - Supports trade surveillance, compliance, and operational efficiency - No new connectivity options required beyond the dedicated port - Aims to help market participants comply with clock synchronization requirements - Place of Performance/Delivery: - SEC headquarters, 100 F Street NE, Washington, DC 205491090

Description

The Cboe BZX Exchange, Inc. has filed a proposed rule change to amend Rule 11.22 to introduce a new optional Clock Service. This service allows members and non-members to synchronize their internal time recording systems with the Exchange's clocks using advanced technologies like White Rabbit and Precision Time Protocol (PTP) for highly precise and correlated latency measurements. The Clock Service aims to enhance time synchronization for trade surveillance, compliance, and operational efficiency without requiring new connectivity options beyond a dedicated 1 Gbps physical port. The proposal is intended to improve market participants' ability to measure and manage latency and comply with clock synchronization requirements.

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