Cboe BZX Kicks Off Trading at 4 a.m. for Early Birds
Published Date: 3/27/2025
Notice
Summary
Cboe BZX Exchange is shaking up its Early Trading Session by starting it earlier—from 7:00 a.m. to 4:00 a.m. ET—and extending it until 8:00 a.m. They’re also adding new order acceptance hours from 2:30 a.m. to 4:00 a.m. This change helps traders get a jumpstart on the market, with no extra fees involved, starting right away!
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Early Trading Session extended to 4:00 a.m.
The Exchange extended its Early Trading Session from 7:00–8:00 a.m. Eastern Time (ET) to 4:00–8:00 a.m. ET. This change lets investors and other market participants trade on Cboe BZX starting at 4:00 a.m. ET.
Order acceptance begins at 2:30 a.m.
BZX will accept orders starting at 2:30 a.m. ET for later sessions, with an order acceptance window of 2:30 a.m. to 4:00 a.m. ET. Users can enter orders during that period and designate which session(s) (Early Trading Session, Pre-Opening, Regular, Post-Closing) the orders should participate in.
Optional 4:00 a.m. or 7:00 a.m. start times
Orders designated for the Early Trading Session may be set to become eligible for execution at either 4:00 a.m. ET or 7:00 a.m. ET. Orders entered between 2:30 a.m. and 4:00 a.m. that are designated for 4:00 a.m. will become eligible at 4:00 a.m., while orders designated for a 7:00 a.m. start time may be entered up to 7:00 a.m. and become eligible at 7:00 a.m.
Rule change became operative upon filing
The Exchange filed the proposed rule change on March 17, 2025, and the Commission waived the usual 30-day operative delay and designated the proposal operative upon filing. That makes the new hours and order acceptance functionality available immediately upon filing.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in