Federal Register #SR-CboeEDGA-2026-009

SEC Notice: Cboe EDGA Exchange Rule Change to Expand Market Data Feed Price Levels

This notice from the Securities and Exchange Commission (SEC) details a proposed rule change by Cboe EDGA Exchange, Inc. to expand market data feed offerings: - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - Cboe EDGA Exchange, Inc. - Cboe BYX Exchange, Inc. (referenced) - Other affiliated Cboe equities exchanges (referenced) - Products/Services Requested: - No procurement of products or services; this is a regulatory notice - Proposed expansion of the EDGA Summary Depth Data Feed from five to twelve price levels per side - Update to the Cboe One Premium Data Feed to offer up to twelve price levels per side, replacing the five-level feed - Unique or Notable Requirements: - The five-level feed will be sunset by the end of 2026 - The change is intended to enhance market transparency and liquidity visibility - Similar changes are being made by other Cboe affiliated exchanges - The rule change is effective immediately and open for public comment - No specific products, part numbers, or purchase quantities are listed, as this is not a procurement opportunity

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change by Cboe EDGA Exchange, Inc. The proposal aims to increase the number of aggregated depth-of-book price levels in the Summary Depth data feeds from five to twelve price levels per side. Additionally, the Cboe One Premium Data Feed will offer up to twelve price levels per side, replacing the existing five-level feed by the end of 2026. This change is intended to enhance market transparency and provide market participants with improved visibility into market liquidity, aligning with similar offerings by other U.S. equities exchanges. The rule change is effective immediately and open for public comment until May 5, 2026.

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