2025-01615NoticeWallet

Cboe Launches Trade Clock: Precise Timing for Market Movers

Published Date: 1/23/2025

Notice

Summary

Cboe C2 Exchange just launched the Cboe Timestamping Service, a cool new tool that gives traders detailed timing info on orders, quotes, and cancels. Members can pick one or both reports, paying fees based on their choice. This change kicks in right away, helping market players track their trades more precisely and make smarter moves.

Analyzed Economic Effects

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

Cboe Timestamping Service Launch

If you are a Cboe C2 Exchange Member or market participant, the Exchange adopted the Cboe Timestamping Service, a market data product made of two optional reports: the Missed Liquidity Report (covers order and quote messages) and the Cancels Report (covers cancel messages). Members may choose both reports, one report, or neither, and corresponding fees will be assessed based on the number of reports selected; the Exchange plans to file a separate rule change to propose the fee amounts. The Exchange intends to launch these reports on January 27, 2025, and orders include both complex and simple orders.

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Key Dates

Published Date
Effective Date
1/23/2025
1/27/2025

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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