Cboe C2 Gives Traders More Control Over Risk Monitor Parameters Now
Published Date: 1/28/2026
Notice
Summary
Cboe C2 Exchange is giving traders more freedom to decide how their trades count toward risk limits. This change helps Trading Permit Holders (TPHs) better manage their risk without waiting for approval. The new rule is effective immediately, making risk control smoother and more flexible starting now.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Exclude COA Executions from Risk Counts
If you are a Trading Permit Holder (TPH), you may choose to exclude volume or executions that happened in Complex Order Auctions (COA) from certain Risk Monitor counts. This option applies to the volume parameter and the execution count parameter and can be set for an underlying, an EFID, or an EFID Group on either an interval or absolute (daily) basis.
Count Trades by Contra-Party Capacity Percentage
TPHs may now set the volume or execution count parameters to count only a specified percentage (up to 100%) of each trade based on the contra-party's Capacity. For example, a TPH could choose to count only 20% of the quantity on each trade against a Capacity "C" (Public Customer) toward their underlying, EFID, or EFID Group limits, on either an interval or daily basis.
Optional, Uniform Risk-Setting Enhancements
The new Risk Monitor options are optional and available to all Trading Permit Holders (TPHs) on the Exchange. The Exchange states the enhancements apply uniformly to all TPHs who choose to use them and are intended to let firms better manage order and execution risk.
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