Stock Traders Get Official Clock Sync: Time to Tick Tock Precisely
Published Date: 3/30/2026
Notice
Summary
Cboe C2 Exchange is rolling out a new Clock Service that helps traders sync their clocks with the Exchange’s time for super accurate tracking of orders and messages. This optional service is open to all traders and could boost fairness and speed in trading. It’s effective immediately, so anyone interested can jump on board without delay—no extra fees mentioned yet!
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
Optional Exchange Clock Service Launched
If you are a trading firm or market participant, Cboe C2 is offering an optional Clock Service that subscribers can use to sync their primary clock to the Exchange's primary clock. The service uses White Rabbit technology and includes a dedicated 1 Gbps Physical Port as part of the offering (the Exchange filed the rule change on March 17, 2026).
Sub‑Nanosecond Time Sync for Precise Latency
Subscribers can receive the Exchange's time signal at a more granular level (up to sub-nanosecond accuracy) to compare their timestamps with Exchange timestamps measured in nanoseconds. This helps latency-sensitive participants better measure and analyze message and order traversal times between their systems and the Exchange.
You May Need White Rabbit Hardware and Licenses
If you want to use the Clock Service but do not already have White Rabbit equipment, you must acquire a White Rabbit clock synchronization device and any required licenses from third-party vendors. The Exchange provides the 1 Gbps Physical Port, but participants are responsible for procuring devices, optics, and applicable licenses.
Fees for Clock Service To Be Proposed Separately
The Exchange intends to file a separate rule change to propose fees for the Clock Service, so subscribers may be charged once the fee filing is made. The current filing does not set a fee; the Exchange stated it will submit a separate Section 19(b)(1) filing to propose fees.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-20466, Adviser and Regulated Fund Custody Rules; Crypto Custody Rules
The SEC is updating rules for how investment advisers and funds handle crypto assets, making sure they keep these digital investments safe and properly reported. These changes affect advisers, funds, and anyone managing crypto securities, aiming to modernize rules and improve transparency. Comments on the proposal are open until December 7, 2026, so get ready to weigh in!
2026-19260, Rescission of Rule 14a-8's Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4
The SEC wants to stop its federal rule that controls how shareholders can make proposals at company meetings, letting state laws and company rules take over instead. They’re also changing rules so companies can sometimes vote on proposals not in their official materials—but shareholders can opt out if they want. This affects investors and companies, with comments open until November 20, 2026, and could shake up how shareholder voices are heard and counted.
2026-18424, Political Contributions by Certain Investment Advisers
The Securities and Exchange Commission (the "Commission" or the "SEC") is proposing to rescind the political contribution rule under the Investment Advisers Act of 1940 (the "Advisers Act"), which prohibits investment advisers from providing investment advisory services for compensation to a government client for two years after an adviser or any covered associate of the adviser makes a contribution to certain categories of elected officials or candidates, among other prohibitions. In the more than fifteen years since the rule was adopted, implementation challenges associated with the political contribution rule have resulted in a range of significant unintended consequences, including compliance practices among some investment advisers that may have had the effect of restricting all political contributions by the investment advisers and their employees. Market participants also have stated that the political contribution rule is burdensome, complex, and both lacks clarity and creates a de facto strict liability standard. The Commission is of the view that other existing requirements of the Advisers Act and its associated rules, including prohibitions on fraud, fiduciary duty requirements, the compliance rule, and the code of ethics rule (defined below), are likely sufficient to address pay-to-play practices while allowing an adviser the flexibility to implement an approach that is more appropriately tailored to its particular risks, rendering the political contribution rule unnecessary. The Commission also is proposing to amend the rule under the Advisers Act pertaining to books and records consistent with the proposed rescission.
2026-18190, Transfer Agent Rules
The U.S. Securities and Exchange Commission ("SEC" or "Commission") is proposing to adopt new rules, amend existing rules, amend the existing form for registration with the Commission as a transfer agent (Form TA-1) and the existing form for reporting activities of transfer agents (Form TA-2), and rescind an existing rule governing registered transfer agents. The proposals are designed to modernize the rules governing registered transfer agents.
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
Previous / Next Documents
Previous: 2026-06045, Self-Regulatory Organizations; Nasdaq Texas, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Dual Listing Fees for the Exchange
Nasdaq Texas is rolling out new fees for companies that list their stocks on both Nasdaq Texas and another exchange at the same time. This change affects businesses with dual listings and starts immediately, helping Nasdaq Texas cover costs while keeping things fair. If you’re a company thinking about listing, get ready to pay these new fees starting now!
Next: 2026-06047, Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Introduce an Exchange Clock Service
Cboe Exchange is launching a new Clock Service that helps traders and firms sync their clocks with the Exchange’s time. This makes tracking orders and messages super accurate and easier for everyone involved. The service is optional, open to all, and already effective as of March 16, 2026—no extra fees or delays announced yet!