Cboe Drops Minute-by-Minute Market Gossip for Traders
Published Date: 6/30/2025
Notice
Summary
Cboe Exchange is rolling out a new One-Minute Interval Intraday Open-Close Report that gives traders quick, detailed updates on market activity throughout the day. This new data product is available for purchase by both Cboe Trading Permit Holders and others, helping everyone stay sharp and make smarter moves. The change is effective immediately, so get ready to level up your trading game with fresh, fast info!
Analyzed Economic Effects
5 provisions identified: 3 benefits, 1 costs, 1 mixed.
Faster One‑Minute Data Helps Traders
The one-minute product provides the same Open-Close fields as the existing 10-minute intraday product but on one-minute intervals (first intraday calculation example ~9:34 a.m. ET for 9:30–9:31 a.m.). The Exchange says this more frequent data may help market participants identify new interest or fading interest during the trading day and be used to create and test trading models and strategies.
One‑Minute Report Purchasable by All
Cboe’s One-Minute Interval Intraday Open-Close Report is available for purchase by Cboe Trading Permit Holders (TPHs) and non-TPHs. The report captures data every 1 minute and the Exchange intends to make each one-minute snapshot available to subscribers within about five minutes (the Exchange expects delivery variability of 2–5 minutes).
Fees To Be Set in Separate Filing
The Exchange intends to submit a separate rule filing to establish fees for the One-Minute Interval Intraday Open-Close Report. The current filing does not set the fees; prospective subscribers should watch for the separate fee filing.
Product Is Voluntary to Buy
The Exchange describes the One-Minute Intraday Open-Close Data as a completely voluntary product: the Exchange is not required to make it available and potential customers may purchase it only if they voluntarily choose to do so.
Immediate Effect with 60‑Day SEC Review Risk
Cboe filed the proposed rule change on June 13, 2025 and the Exchange states the change became effective immediately under Section 19(b)(3)(A) and Rule 19b-4(f)(6). The SEC may, within 60 days of filing, temporarily suspend the change if it appears necessary or appropriate in the public interest.
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