Cboe BYX Gets Timestamp Rule Extension to 2030 for Simpler Compliance
Published Date: 6/27/2025
Notice
Summary
Cboe BYX Exchange is updating a rule to match a special permission from the SEC that lets them use less detailed timestamps until 2030 instead of 2025. This change affects traders and firms using the Exchange’s systems but won’t cost anyone extra. It’s effective immediately, keeping things smooth and clear for everyone involved.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Timestamp Exemption Extended to 2030
If your trading firm records timestamps finer than nanoseconds, you must continue truncating those timestamps to the nanosecond level when submitting data to the Consolidated Audit Trail (CAT). The rule’s expiration date was changed from April 8, 2025 to April 8, 2030, so this truncation requirement remains in effect through April 8, 2030.
No New Competitive Burden Stated
The Exchange states the amendment will not impose any burden on competition and will apply equally to all Industry Members that trade NMS Securities and OTC Equity Securities. The Exchange and other national exchanges and FINRA are making comparable changes, and the Commission made the rule operative on filing.
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Key Dates
Department and Agencies
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Previous: 2025-11873 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of Amendments No. 1 and No. 2, and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendments No. 1 and No. 2, To Amend Exchange Rule 11.25(e) To Allow Users To Utilize the Exchange's Match Trade Prevention Functionality When Entering Periodic Auction Orders Onto the Exchange for Execution
Cboe Exchange is updating its rules to let traders use a special tool called Match Trade Prevention (MTP) when placing Periodic Auction Orders. This change helps prevent accidental trades between related parties and makes trading smoother and safer. The update was approved quickly and will affect anyone using these auction orders starting soon, with no extra costs involved.
Next: 2025-11875 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 4.10 of the Exchange's Compliance Rule To Be Consistent With the Exemptive Relief Granted by the Commission From Certain Provisions Related to Timestamp Granularity
Cboe BZX Exchange is updating its rule to match a new SEC exemption that extends special timing rules for trade data until 2030. This change affects traders and firms using the Exchange by giving them more time to follow simpler timestamp rules, helping keep things smooth and clear. The update is effective immediately, so no delays or extra costs are expected.