Federal Register #SR-CBOE-2026-081

Cboe proposes changes to complex-order legging and risk controls

The SEC notice describes a proposed Cboe Exchange rule change, not a government procurement opportunity. - Government agency: Securities and Exchange Commission (SEC); no purchasing agency or sub-agency is identified. - Filer and organization named: Cboe Exchange, Inc., which operates the exchange and filed the proposed rule change. No vendors or OEMs are identified. - Proposal: Amend Cboe Options Rules 5.33(g) and 5.34 to allow eligible complex orders with legs in different series groups designated by the Exchange as related to leg into their respective Simple Books, subject to existing restrictions and system capability. - Risk controls: The Exchange and, where applicable, Users could set risk-control parameters for related groups, including aggregating activity across those groups for applicable risk checks. - Example and limitation: SPX and planned SPXO options are cited as groups that may qualify because they share a matching engine; groups on different matching engines would not qualify. - Products, quantities, and procurement value: No products or services are requested, and no quantities or contract value are provided.

Description

Cboe Exchange, Inc. proposes amendments to Rule 5.33(g) and Rule 5.34. The changes would allow complex orders with legs in different series groups designated as related to leg into the Simple Book, subject to existing restrictions and technological capability. The proposal would also allow the Exchange and, where applicable, Users to set risk-control parameters on a related-group basis. The notice invites public comment on the proposed rule change.

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