2026-01630Notice

Cboe Exchange Updates Risk Rules for Smarter Trader Activity Management

Published Date: 1/28/2026

Notice

Summary

Cboe Exchange just updated its Risk Monitor rules to give traders more control over how their trades count toward risk limits. This change helps users manage their trading risks more flexibly and takes effect immediately, so traders can start benefiting right away. If you trade on Cboe, this means smarter risk tracking without waiting around!

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Option to Exclude Auction Executions

If you trade on Cboe, you can opt to exclude volume or executions from certain exchange auctions—AIM, C-AIM, SAM, C-SAM, SUM, and COA—from how the exchange counts your volume and execution "count" risk limits. This optional change became effective when filed on January 14, 2026 and applies at the class, EFID, or EFID Group level on both interval and absolute bases.

Count Trades by Contra-Party Capacity

Cboe users may choose to count only a specified percentage (up to 100%) of volume or executions toward their risk limits based on contra-party capacity. For example, a User could set only 20% of the quantity on trades with Capacity "C" (Public Customer) to count toward class, EFID, or EFID Group limits, on interval or absolute bases; this option is available as of the January 14, 2026 filing.

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Key Dates

Effective Date
Published Date
1/14/2026
1/28/2026

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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