2025-23529Notice

Cboe Updates Wide Market Safeguards for Traders

Published Date: 12/22/2025

Notice

Summary

Cboe Exchange is updating a safety rule that helps stop trades from happening at crazy high or low prices when the market’s best prices are very far apart. This change affects traders using Cboe Options and kicks in right away to keep trading fair and smooth. No big costs here, just smarter protections to avoid wild price swings during tricky market moments.

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Market‑Maker Orders Excluded From Wide Protection

On December 15, 2025 Cboe filed a rule change that makes all M and N capacity orders on Cboe Options excluded from the Exchange's wide market protection mechanism, regardless of their Time-in-Force. The Commission waived the usual 30-day delay and made this change operative upon filing, and the Exchange says the change is intended to ensure consistency across Market‑Maker order types and to support operational efficiency for investors.

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Key Dates

Effective Date
Published Date
12/15/2025
12/22/2025

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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