Federal Register #SR-CboeBYX-2026-026

SEC Notice of Proposed Rule Change for Cboe BYX Exchange ISO Handling

This notice concerns a proposed regulatory change by the Securities and Exchange Commission (SEC) for Cboe BYX Exchange, Inc. trading rules. - Government buyer: - Securities and Exchange Commission (SEC) - No OEMs or commercial vendors are involved, as this is a regulatory action - No products or services are being procured; the notice addresses amendments to trading rules - Key details of the proposed rule change: - Amends Rule 11.9(d) to allow Intermarket Sweep Orders (ISOs) to be entered as non-displayed orders - Establishes the price level at which the system will consider an ISO available for other orders - Permits non-displayed orders to re-price to more aggressive prices - Aligns Cboe BYX Exchange practices with those of other exchanges, such as Nasdaq ISE, LLC - No quantities, part numbers, or procurement requirements are present - The notice is strictly about regulatory amendments to trading practices, not a purchase or contract opportunity

Description

The Cboe BYX Exchange, Inc. has filed a proposed rule change to amend Rule 11.9(d) to allow an Intermarket Sweep Order (ISO) to be entered as a non-displayed order. The proposal also establishes the price level at which the system will consider an ISO available for other orders to be entered. Additionally, the rule change includes amendments to permit non-displayed orders to re-price to more aggressive prices. This change aims to enhance trading flexibility and align with practices on other exchanges.

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