Federal Register #SR-C2-2026-024

SEC Notice of Proposed Rule Change for Cboe C2 Exchange Step Up Mechanism (SUM)

This notice from the Securities and Exchange Commission (SEC) announces a proposed rule change submitted by Cboe C2 Exchange, Inc. regarding the adoption of a Step Up Mechanism (SUM) for its exchange operations. - Government buyer: - Securities and Exchange Commission (SEC) - OEMs and vendors mentioned: - Cboe C2 Exchange, Inc. - Cboe Options - IEX - Cboe EDGX - Products/services requested: - No products or services are being procured; this is a regulatory notice - Unique or notable requirements: - The SUM functionality is intended to enhance liquidity and execution quality by allowing users to match the national best bid or offer (NBBO) from other exchanges - The rule change includes harmonization with similar mechanisms at Cboe Options, IEX, and Cboe EDGX - The notice invites public comment on the proposed rule change - No purchase quantities, part numbers, or procurement-specific requirements are listed

Description

The Securities and Exchange Commission (SEC) has filed a notice regarding a proposed rule change by Cboe C2 Exchange, Inc. to adopt a new rule governing the operation of a proposed Step Up Mechanism (SUM) on the exchange and to make conforming changes in other rules. The rule change is effective immediately upon filing. The proposed SUM functionality aims to enhance liquidity and execution quality on the exchange by allowing users to step up to match the national best bid or offer (NBBO) displayed on other exchanges. The notice invites interested persons to submit comments on the proposed rule change.

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