Cboe EDGX Opens Auctions to More Market-Makers
Published Date: 4/22/2026
Notice
Summary
Cboe EDGX Exchange is updating its rules to let market-makers with the right appointment join in special auctions called Simple AIM and Simple SAM. This change means these market-makers can now have their orders considered when matching trades, making the process smoother and more competitive. The new rules took effect right away on April 7, 2026, helping market-makers and traders move faster and possibly save money.
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Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Appointed Market‑Makers May Be Solicited
If you are an appointed market‑maker on Cboe EDGX, Rules 21.19 and 21.21 were changed so your orders can be solicited as the Initiating Order in simple AIM and simple SAM auctions. This rule change became operative upon filing on April 7, 2026 and gives appointed market‑makers more ways to participate in those auctions.
More Price Improvement for Retail Orders
You may see more chances for price improvement on retail and smaller customer options orders because appointed Market‑Makers can now be solicited to provide contra interest in simple AIM and simple SAM auctions. The Exchange expects this change to expand available liquidity in those auctions and to increase execution and price improvement opportunities for customers.
More Competitive, Efficient Auctions
The rule change is intended to increase competition among Market‑Makers and help brokers more efficiently locate liquidity to fill customer orders, including during volatile times. The Exchange says permitting appointed Market‑Makers to be solicited may lead to more aggressive initial auction prices and better auction outcomes.
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