Federal Register #SR-CboeBZX-2026-067

SEC Notice of Proposed Rule Change by Cboe BZX Exchange, Inc. to Amend Market Maker Quotation Rules

This opportunity involves a notice from the United States Securities and Exchange Commission (SEC) regarding a proposed rule change by Cboe BZX Exchange, Inc. - Government buyer: - United States Securities and Exchange Commission (SEC) - Cboe BZX Exchange, Inc. is the submitting entity - No OEMs or vendors are mentioned, as this is a regulatory action - No products or services are being requested or procured - Key details: - The proposed rule change amends Exchange Rule 22.6 (Market Maker Quotations) - Introduces two-sided quote bid/ask differentials, setting maximum permissible width between bid and offer - Modeled after frameworks from Miami International Securities Exchange, LLC (MIAX) and Nasdaq ISE, LLC (ISE) - Clarifies treatment of zero or no bid in bid/ask differential calculations - SEC is soliciting public comments on the proposed rule change - No procurement-relevant requirements, products, or services are included

Description

The Securities and Exchange Commission has issued a notice regarding a proposed rule change by Cboe BZX Exchange, Inc. to amend Exchange Rule 22.6 concerning Market Maker Quotations. The rule change aims to adopt two-sided quote bid/ask differentials, establishing the maximum permissible width between a Market Maker's bid and offer in a series in an appointed class. This proposal is modeled on frameworks from other options exchanges and clarifies how bids of zero or no bid are treated in the calculation. The notice is published to solicit comments from interested persons.

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