Exchange Now Requires Monthly Order Reviews for Pros
Published Date: 7/15/2026
Notice
Summary
Cboe EDGX Exchange is changing the rules for 'Professional' traders by requiring them to review their orders every month. This affects traders who place lots of option orders and helps keep things fair and clear. The new rule kicks in right away, so pros need to stay on top of their order reviews to avoid any mix-ups or penalties.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Faster 'Professional' Designation for Option Traders
If you trade listed options (and are not a broker-dealer), and your activity averages more than 390 orders per day during any calendar month, your orders must be marked as "Professional" for the next calendar month. Options Members must change how they represent your orders within five days after the end of each calendar month; this rule became operative upon filing on June 30, 2026.
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Key Dates
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MEMX is updating how it checks ‘Professional Orders’—those big traders placing lots of options orders each month. This change means MEMX will review these orders every month instead of quarterly, helping keep things fair and clear for everyone trading. The new rule kicks in right away and could affect traders who place over 390 option orders daily, but it doesn’t change any fees.
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