# Federal Register #SR-C2-2026-027

Cboe C2 Exchange proposes tiered Market-Maker quote-width limits for options

**Buyer:** Securities and Exchange Commission
**Posted:** October 06, 2026
**Respond By:** October 27, 2026
**Identifier:** SR-C2-2026-027
**NAICS:** 523210

Cboe C2 Exchange proposes tiered limits on Market-Maker options quote widths under Rule 5.52(c).
- **Government body:** The Securities and Exchange Commission (SEC) published the notice and is soliciting public comments.
- **Proposing organization:** Cboe C2 Exchange, Inc.
- **Proposed limits:** A maximum $5 bid/ask differential for options expiring in 270 days or less, and a maximum $15 differential for options expiring in more than 270 days.
- **Rationale and related rules:** Cboe says the tiers account for differences in liquidity and pricing uncertainty. The proposal aligns with Cboe Options Rule 5.52(c) and references approaches used by ISE and Phlx.
- **Procurement:** No products, services, quantities, or part numbers are requested; this is a proposed exchange-rule change, not a procurement.

### Description

Cboe C2 Exchange, Inc. proposes to amend Exchange Rule 5.52(c), which sets bid/ask differential requirements for Market-Maker quotes. The amendment would apply a $5 maximum bid/ask differential to options series expiring in 270 days or less and a $15 maximum to options series expiring in more than 270 days. The notice announces the filing’s immediate effectiveness and invites public comments by October 27, 2026.

[View original listing](https://www.federalregister.gov/documents/2026/10/06/2026-20402/self-regulatory-organizations-cboe-c2-exchange-inc-notice-of-filing-and-immediate-effectiveness-of-a)