# 2025-04354: SEC Delays Decision on Futuristic Option-Futures Mashup Orders

2025-04354, Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Permit Orders Comprised of Options and Futures Legs (“Future-Option Orders”), is a Federal Register notice from Securities and Exchange Commission published 2025-03-18, effective 2025-06-05 (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-04354
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-04354
- Title: Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Permit Orders Comprised of Options and Futures Legs (“Future-Option Orders”)
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 12629
- Published: 2025-03-18
- Effective: 2025-06-05
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

SEC Delays Decision on Futuristic Option-Futures Mashup Orders

## Summary

The Cboe Exchange wants to let traders place special orders that mix options and futures, called Future-Option Orders. The SEC is taking extra time to decide if this new rule is a good idea, pushing their decision deadline to June 5, 2025. This affects traders and the market by potentially making trading more flexible, but no money changes yet until the rule is approved.

## Effects PRIA read

No economic effects identified for this document.

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## Sources
- [2025-04354 on federalregister.gov](https://www.federalregister.gov/documents/2025/03/18/2025-04354/self-regulatory-organizations-cboe-exchange-inc-notice-of-designation-of-a-longer-period-for)
- [2025-04354 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-03-18/pdf/2025-04354.pdf)

## Related
- [Previous: 2025-04353, Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a P…](https://policyrisk.com/federal-register/2025-04353)
- [Next: 2025-04355, Submission for OMB Review; Comment Request; Extension: Form 12b-25-Notification…](https://policyrisk.com/federal-register/2025-04355)
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Source: PRIA, https://policyrisk.com/federal-register/2025-04354 (as of 2026-06-08).