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.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-11032 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Update Rule 11.26(a)
Cboe BZX Exchange is updating its rule to include a new stock exchange, Texas Stock Exchange (TXSE), in its data sources for handling and routing orders. This change kicks in between July 2 and July 17, 2026, and helps keep trading info clear and up-to-date. Traders and members will see no extra costs, just smoother, more transparent trading.
2026-11033 — Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Update Rule 11.26(a)
Cboe BYX Exchange is updating its rules to include data from the new Texas Stock Exchange, which will start trading between July 2 and July 17, 2026. This change affects how BYX handles, routes, and executes orders, making sure everyone knows where the data comes from. No extra costs or delays are expected, and the update is effective immediately.
2026-11034 — Self-Regulatory Organizations; Nasdaq Stock Market LLC; Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1 Thereto, To List and Trade Shares of the iShares Bitcoin Premium Income ETF Under Nasdaq Rule 5711(d) (Commodity-Based Trust Shares)
The SEC gave a speedy thumbs-up for Nasdaq to list and trade shares of the iShares Bitcoin Premium Income ETF, a new fund tied to Bitcoin. This means investors can soon buy and sell these shares on Nasdaq, starting right after approval. It’s a fresh way for folks to earn income from Bitcoin without owning it directly, opening new doors in the crypto world.
Previous / Next Documents
Previous: 2025-01614 — Order Regarding Review of Financial Accounting Standards Board (“FASB”) Accounting Support Fee for 2025 Under Section 109 of the Sarbanes-Oxley Act of 2002
The SEC reviewed the fee that companies must pay in 2025 to support the Financial Accounting Standards Board (FASB), which sets important accounting rules. This fee helps cover FASB’s budget and keeps their work steady and independent. Companies that issue securities will see the fee stay within the approved budget, ensuring no surprise costs in 2025.
Next: 2025-01616 — Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Delay an Amendment to a Complex Order Risk Protection
Nasdaq ISE is hitting the pause button on a new rule that changes how complex orders with mixed morning and afternoon settlement times are protected from risk. This delay means traders and investors get more time before the new rules kick in, helping avoid any sudden surprises or money mishaps. The change is effective immediately, giving everyone a breather to prepare.