Cboe Invites Market-Makers to Auction Party: Rules Updated Instantly
Published Date: 4/22/2026
Notice
Summary
Cboe EDGX Exchange is updating its rules to let market-makers with the right appointment join in special auctions called Simple AIM and Simple SAM. This change means these market-makers can now have their orders considered when matching trades, making the process smoother and more competitive. The new rules took effect right away on April 7, 2026, helping market-makers and traders move faster and potentially save money.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Appointed Market‑Makers May Be Solicited
The Exchange amended Rules 21.19 and 21.21 so that orders for the accounts of Market‑Makers with an appointment in the applicable class may be solicited as the Initiating Order in simple AIM and simple SAM auctions in all classes. This change became operative upon filing on April 7, 2026 and removes the prior prohibition on soliciting appointed Market‑Makers as contra parties in those auctions.
Increased Price Improvement Opportunities For Customers
The rule change permits appointed Market‑Makers to be solicited as contras in simple AIM and simple SAM auctions, which the Exchange states may expand available liquidity and increase execution and price‑improvement opportunities for customer orders, particularly retail and smaller customer orders. The change became operative upon filing on April 7, 2026.
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