Cboe BZX Cuts Pre-Trading Circulars: Less Paper, More Speed
Published Date: 1/27/2026
Notice
Summary
Cboe BZX Exchange wants to stop sending info circulars before trading starts on each new UTP derivative security. This change affects traders and investors by speeding up the process and cutting down on paperwork. The rule change was proposed in January 2026 and aims to make trading smoother without extra costs.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Remove Pre‑Trade Information Circulars
If you trade or invest in UTP Derivative Securities, the Exchange has proposed removing the rule that requires it to distribute an information circular before trading begins in each such security. The change (filed January 7, 2026; notice published January 27, 2026; comments due February 17, 2026) is intended to speed up the start of trading and cut paperwork because the same information is already publicly available (e.g., via the SEC's EDGAR) and will be referenced via Exchange Rules 3.7 and 3.21.
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