SEC Takes Extra Time to Review Cboe's Complex Order Proposals
Published Date: 5/8/2026
Notice
Summary
The Cboe Exchange wants to add new rules for special stop-limit complex orders and create a brand-new auction type called Stop Complex Order Auctions. The SEC is taking extra time, now until June 24, 2026, to review and decide on these changes. Traders and investors using complex orders could see new ways to buy and sell, but no money changes yet—just a longer wait for the green light.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
New Stop-Limit Complex Orders Proposed
On March 9, 2026, Cboe Exchange filed a proposal to accommodate stop-limit complex orders and to establish Stop Complex Order Auctions as a new auction type. The proposal was published for comment on March 26, 2026 and the Commission received no comments. If approved, traders and investors who use complex orders would have new ways to place and execute complex orders.
SEC Extends Review Deadline
The Securities and Exchange Commission extended the 45-day review period for this proposed Cboe rule change so that its decision deadline is June 24, 2026 (the original 45th day was May 10, 2026). The Commission will either approve, disapprove, or institute proceedings by June 24, 2026.
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