# 2025-20685: Cboe Exchange Amends Rule with SEC Filing

2025-20685, Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 5.1, is a Federal Register notice from Securities and Exchange Commission published 2025-11-24, effective 2025-09-26 (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-20685
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-20685
- Title: Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 5.1
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 53013
- Published: 2025-11-24
- Effective: 2025-09-26
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Cboe Exchange Amends Rule with SEC Filing

## Summary

Cboe Exchange is updating its rules to let traders buy and sell Russell 2000 and Mini-Russell 2000 options during both Global Trading Hours and Curb Trading Hours. This change means more trading opportunities for investors outside regular hours, starting right away with no extra fees. If you trade these options, get ready for more flexibility and action!

## Effects PRIA read

- RUT & MRUT Trade Hours Extended: benefit, medium. You can trade Russell 2000 (RUT) and Mini-Russell 2000 (MRUT) index options outside regular hours because the Exchange may list and trade these products during Global Trading Hours (8:15 p.m. previous day to 9:25 a.m. Monday–Friday) and during Curb Trading Hours (4:15 p.m. to 5:00 p.m. Monday–Frida…
- Broker Duties Continue During Extended Hours: benefit, low. If you use a broker to trade during Global Trading Hours (8:15 p.m. previous day to 9:25 a.m.) or Curb (4:15 p.m. to 5:00 p.m.), your broker's business conduct rules, due diligence, and best execution obligations continue to apply during those sessions. The Exchange states existing Chapter 8 and Ch…
- TPHs Can Trade RUT/MRUT But Not Required: benefit, low. All Trading Permit Holders (TPHs) will be able, but are not required, to trade RUT and MRUT options during Global Trading Hours and Curb. The Exchange says the change merely extends permissible trading hours for products that already trade during Regular Trading Hours.
- Extended Hours Increase Futures Overlap for Hedging: benefit, medium. Extending RUT and MRUT trading into Global Trading Hours and Curb increases the time these options overlap with related futures (for example, E-mini Russell 2000 contracts), which the Exchange says lets global participants hedge and respond to macroeconomic events nearly around the clock.

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## Sources
- [2025-20685 on federalregister.gov](https://www.federalregister.gov/documents/2025/11/24/2025-20685/self-regulatory-organizations-cboe-exchange-inc-notice-of-filing-and-immediate-effectiveness-of-a)
- [2025-20685 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-11-24/pdf/2025-20685.pdf)

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- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-20685 (as of 2026-06-08).