SEC Reviews Cboe Auction Response Processing Rule Tweaks
Published Date: 12/22/2025
Notice
Summary
Cboe Exchange wants to change how long it takes to process auction responses for certain stock trades. This affects traders using Cboe’s auction systems and could speed up or slow down how orders get matched. The SEC is now deciding whether to approve this change by January 1, 2026, with no money impact expected yet.
No Economic Impacts Identified for this Document
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Previous: 2025-23533, Self-Regulatory Organizations; Cboe Exchange, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend Rule 5.4 to Change the Minimum Increment for Options on the Cboe Magnificent 10 Index
Cboe wants to change the smallest price moves for options on its Magnificent 10 Index to make trading smoother and more precise. If approved, options priced under $3 will move in pennies ($0.01), and those $3 or above will move in nickels ($0.05). This affects traders and investors who deal with these tech-heavy index options, with a decision expected by December 29, 2025.
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