Traders Get Opt-Out Button for Auction Price Auto-Tweaks – Yawn?
Published Date: 1/28/2025
Notice
Summary
Cboe EDGX Exchange just made a cool update letting Trading Permit Holders (TPHs) skip automatic price tweaks during AIM auctions if the price is outside the best market range when received. This change kicks in right away and gives traders more control over their auction prices, potentially speeding up trades without messing with fairness. If you’re a TPH, this means more flexibility and possibly better deals!
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
TPHs Can Opt Out of AIM Price Adjustments
On January 8, 2025, Cboe EDGX filed a rule change, designated for immediate effectiveness, that lets Trading Permit Holders (TPHs) opt out of the Automated Improvement Mechanism (AIM) systematic adjustment of an auction price when that price is outside the national best bid and offer (NBBO) upon receipt by the Exchange's system. If you are a TPH, you can choose not to have the exchange automatically change your AIM auction price in that situation.
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