Cboe Formalizes How Traders Can Voluntarily Quit Permits
Published Date: 3/11/2025
Notice
Summary
Cboe C2 Exchange is making a new rule that clearly explains how Trading Permit Holders can quit their permits whenever they want. This change affects anyone holding a Trading Permit and makes the process official and straightforward, with no extra fees or delays. The rule kicks in right away, so permit holders should pay attention to deadlines set by the Exchange.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Formal Process to Quit Trading Permits
If you are a Cboe C2 Trading Permit Holder, the new Rule 3.13 makes the voluntary-termination process official. You must notify the Exchange, prior to the deadline announced by the Exchange and in the form and manner the Exchange prescribes, that you are terminating the Trading Permit at the end of its term.
Immediate Effect with 60-Day Review Risk
The Exchange designated the proposed rule change for immediate effectiveness when it filed it on February 19, 2025. The Commission may temporarily suspend the rule within 60 days of that filing if it deems suspension necessary, creating a short period when the rule could be paused while the Commission reviews it.
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