# Federal Register #SR-CboeBZX-2026-076

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

**Buyer:** Securities and Exchange Commission
**Posted:** September 23, 2026
**Identifier:** SR-CboeBZX-2026-076

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.

[View original listing](https://www.federalregister.gov/documents/2026/09/23/2026-19396/self-regulatory-organizations-cboe-bzx-exchange-inc-notice-of-filing-and-immediate-effectiveness-of)