Federal Register #SR-CboeBYX-2026-029

Notice of Proposed Rule Change: Cboe BYX Exchange Order Entry Protocol Migration Program

This notice outlines a proposed rule change by Cboe BYX Exchange, Inc. regarding its Order Entry Protocol Migration Program. - Government buyer: - Securities and Exchange Commission (SEC) - Cboe BYX Exchange, Inc. (regulated entity) - No OEMs or commercial vendors are mentioned, as this is a regulatory notice. - No products or services are being procured; the notice describes a program for Members to establish redundant logical ports as backup connections during order entry protocol migrations (e.g., BOEv2 to BOEv3). - Key requirements: - Members may set up backup logical ports during Exchange-initiated protocol migrations. - Fee credits are available for redundant ports if Members notify the Exchange, cancel within 30 days, and use the ports only due to migration issues. - The program aims to reduce operational risk and financial disincentives for Members during migrations. - No procurement, purchase quantities, or part numbers are involved.

Description

The notice pertains to the Cboe BYX Exchange, Inc. filing a proposed rule change with the SEC to introduce its Order Entry Protocol Migration Program, which was filed for immediate effectiveness. The program provides fee credits for logical ports established solely as backup connections during an Exchange initiated order entry protocol migration. Members may establish a redundant logical port during migration and receive a credit on the monthly logical port fee if certain conditions are met, including notification to the Exchange, cancellation within 30 days, and usage only due to Exchange migration issues. This program aims to reduce operational risk and financial disincentives during protocol migration.

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