Federal Register #SR-CboeBZX-2026-076

Notice of Proposed Rule Change by Cboe BZX Exchange, Inc. to Amend Rule 11.15(a)

This opportunity involves a proposed rule change by Cboe BZX Exchange, Inc., published by the Securities and Exchange Commission (SEC). - Government buyer: - Securities and Exchange Commission (SEC) - Cboe BZX Exchange, Inc. (as the entity proposing the rule change) - No OEMs or vendors are mentioned; this is not a procurement for products or services. - Products/services requested: - None; the notice pertains to regulatory amendments, not a purchase. - Unique or notable requirements: - The rule change clarifies that non-Member firms may act as Clearing Firms for Members of the exchange. - Updates Rule 11.15(a) to replace 'Member' with 'firm' and refers to a Clearing Firm rather than a Clearing Member. - Maintains the requirement that all transactions be cleared through a registered clearing agency using a continuous net settlement system. - Aims to promote transparency, remove regulatory uncertainty, and support efficient clearance and settlement processes. - No contract value, product line items, or service line items are associated with this notice.

Description

This notice announces a proposed rule change filed by Cboe BZX Exchange, Inc. to amend Rule 11.15(a) to clarify that a non-Member firm may act as a Clearing Firm. The amendment updates the rule text to replace the term 'Member' with 'firm' and refers to a Clearing Firm rather than a Clearing Member, providing clarity that non-Member firms can clear transactions for Members. The change does not alter the requirement that all transactions be cleared through a registered clearing agency using a continuous net settlement system. The proposal aims to promote transparency, remove regulatory uncertainty, and support efficient clearance and settlement processes.

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