# Federal Register #SR-CboeBYX-2026-038

Cboe BYX proposal to revise information-circular requirements for UTP Derivative Securities

**Buyer:** Securities and Exchange Commission
**Posted:** October 16, 2026
**Identifier:** SR-CboeBYX-2026-038

The Securities and Exchange Commission (SEC) published a notice about a proposed rule change by Cboe BYX Exchange, Inc.
- **Government agency:** SEC; no sub-agency or office is identified.
- **Filing organization:** Cboe BYX Exchange, Inc.
- **Proposed change:** Amend Rule 14.1 information-circular requirements for UTP Derivative Securities.
  - Remove the requirement for Cboe BYX to distribute a circular that duplicates information from the listing exchange.
  - Add cross-references to Exchange Rules 3.7 and 3.21 and revise requirements for written descriptions when required by the listing exchange.
  - Renumber provisions and make a related change to Interpretations and Policies .01.
- **SEC action:** The SEC waived the operative delay, so the rule change became operative upon filing, and invited public comments.
- **Procurement status:** This is a regulatory rule-change notice, not a procurement. No products, services, quantities, or part numbers are requested.

### Description

Cboe BYX Exchange, Inc. filed a proposed rule change to amend Exchange Rule 14.1 concerning information circular requirements for UTP Derivative Securities. The proposal adds cross-references to Rules 3.7 and 3.21, removes the requirement for the Exchange to issue a duplicative information circular before trading begins, and changes the requirements for written descriptions when required by a listing exchange. It also renumbers provisions and makes a conforming change to Interpretations and Policies .01. The SEC waived the 30-day operative delay, making the proposed rule change operative upon filing, and invited comments through November 6, 2026.

[View original listing](https://www.federalregister.gov/documents/2026/10/16/2026-21126/self-regulatory-organizations-cboe-byx-exchange-inc-notice-of-filing-and-immediate-effectiveness-of)