SEC Eases Rules for Cboe's Trading Tools
Published Date: 5/6/2026
Notice
Summary
The SEC is giving Cboe’s affiliate a break from some paperwork rules for their order and execution management software, like Silexx. This means Cboe can offer these tools more easily, as long as they follow certain conditions. This change helps Cboe members use these systems without extra delays or costs starting now.
Analyzed Economic Effects
5 provisions identified: 3 benefits, 1 costs, 1 mixed.
SEC Exempts Cboe-Affiliated OEMSs From Rule Filings
The Securities and Exchange Commission granted conditional exemptive relief on May 1, 2026, allowing Exchange‑affiliated order and execution management systems (OEMSs) to be exempt from the requirement to file proposed rule changes under Section 19(b) and related requirements under Section 6(b) of the Exchange Act, provided the Exchange meets the listed Exemption Conditions.
Connection Terms and Fees Must Be Equal
The Exemption Conditions require that ports, terms, conditions, and fees for connecting to the Exchange be the same for third‑party OEMSs and Exchange‑affiliated OEMSs, and that those connectivity requirements and fees be set out in the Exchange's Rules, technical specifications, and Fees Schedule.
Fees and Rebates Restrictions for Affiliated OEMS
Any fees charged by an Exchange‑affiliated OEMS may not take into account a user's activity on the Exchange or Exchange fees, and any fees charged by the Exchange may not consider a member's activity on the Exchange‑affiliated OEMS; the Exchange also will no longer provide rebates to users of an Exchange‑affiliated OEMS.
Use of Affiliated OEMS Must Be Voluntary
The exemption requires that use of an Exchange‑affiliated OEMS be voluntary and not required for a member to access the Exchange; the OEMS must be a nonexclusive means of access.
Affiliated OEMSs Still Subject to Books, Records, Oversight
Even with the exemptive relief, Exchange‑affiliated OEMSs that are facilities (like Silexx) remain subject to other Exchange Act requirements, including books and records obligations under Section 17(a) and inspection and examination requirements under Section 17(b) and Rule 17a‑1.
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
2026-12163, 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!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-16853, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Price List
The New York Stock Exchange is changing its price rules starting August 11, 2026. They’re tweaking the share amount needed to get free late D Orders at the market close and cleaning up some wording. This affects traders using these order types and could save or cost them money depending on their order size.
2026-16855, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Equity 4, Rule 3100 Regarding Trading Halts
Previous / Next Documents
Previous: 2026-08777, Product Change-Priority Mail, and USPS Ground Advantage Negotiated Service Agreements, Priority Mail Negotiated Service Agreements
The Postal Service is updating its Priority Mail and USPS Ground Advantage deals by adding new shipping contracts to its special negotiated service list. This means businesses using these services might see new options or pricing changes starting soon. The changes were officially filed in late April 2026 and announced in early May, so keep an eye out if you ship with USPS!
Next: 2026-08779, Competitive Postal Products
The Postal Service is planning to change prices and rules for some of its competitive mail products starting around mid-July 2026. These changes affect businesses and customers using special postal services, and the Postal Regulatory Commission is asking for public comments by May 14, 2026. The goal is to make sure the new prices are fair and follow the rules.