Federal Register #SR-CboeEDGX-2026-47

SEC Notice: Proposed Rule Change for Monthly Professional Order Reviews by Cboe EDGX and MEMX

This notice from the Securities and Exchange Commission (SEC) addresses proposed rule changes by Cboe EDGX Exchange, Inc. and MEMX LLC affecting order review processes for exchange members. - No procurement of products or services is involved; this is a regulatory update - Cboe EDGX Exchange, Inc. and MEMX LLC propose to amend the definition of 'Professional' for order designation - The change requires monthly reviews of customer orders, replacing the previous quarterly review schedule - The review determines if customers should be classified as 'Professional' based on their average daily order volume - The proposal is modeled after similar changes by Nasdaq ISE, LLC - The intent is to ensure more timely and accurate Professional order designations, supporting fair competition and market integrity - The SEC is soliciting public comments on these proposed rule changes - No OEMs, vendors, or product part numbers are referenced, as this is not a procurement action

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change by Cboe EDGX Exchange, Inc. to amend the definition of Professional to require monthly reviews of orders. The proposal shortens the review period from quarterly to monthly for determining whether orders should be designated as Professional orders based on the average number of orders per day. This change aims to ensure more timely and accurate designation of Professional orders, maintaining fair competition and market integrity. The rule change is effective immediately upon filing.

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