BZX Exchange Updates Timestamps to Match New SEC Relief Until 2030
Published Date: 6/27/2025
Notice
Summary
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.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Timestamp exemption extended to 2030
If your firm reports trading data to the Consolidated Audit Trail (CAT) and your systems capture timestamps more granular than a nanosecond, you must truncate those timestamps after the nanosecond level (do not round) when submitting to CAT until April 8, 2030.
Amendment effective immediately upon filing
The Exchange filed the amendment on June 18, 2025 and the Commission waived the usual 30-day delay, so the change is operative upon filing and the April 8, 2030 expiration is effective immediately.
Rule applies equally to all Industry Members
The Exchange states the amendment and the exemptive relief will apply equally to all Industry Members that trade NMS Securities and OTC Equity Securities.
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Previous / Next Documents
Previous: 2025-11874, Self-Regulatory Organizations; Cboe BYX 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 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.
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