# 2026-22847: Exchange Auction Rules Get Longer Name Than Anyone Could Need

2026-22847, Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rule 11.25 To Introduce an Optional, Contingent Instruction Applicable to Periodic Auction Only Orders, Introduce a Time-in-Force of Auction or Cancel, and Make Conforming Changes to Its Periodic Auction Processing Behavior To Support the Proposed Contingent Instruction, is a Federal Register notice from Securities and Exchange Commission published 2026-11-10, effective The Commission designates January 9, 2027 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-CboeBYX-2026-014).; PRIA reads it as touching household money (as of 2026-11-11).

- Canonical: https://policyrisk.com/federal-register/2026-22847
- As of: 2026-11-11
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-22847
- Title: Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rule 11.25 To Introduce an Optional, Contingent Instruction Applicable to Periodic Auction Only Orders, Introduce a Time-in-Force of Auction or Cancel, and Make Conforming Changes to Its Periodic Auction Processing Behavior To Support the Proposed Contingent Instruction
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 72587
- Published: 2026-11-10
- Effective: The Commission designates January 9, 2027 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-CboeBYX-2026-014).
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-11-11

## In one line

Exchange Auction Rules Get Longer Name Than Anyone Could Need

## Summary

The Cboe BYX Exchange wants to add a new optional rule for special auction orders that lets traders cancel if the auction doesn’t happen. They also want to tweak how these auctions work to support this change. The SEC is taking extra time to decide if this is a good idea, so traders and market watchers should stay tuned for updates.

## Effects PRIA read

- Optional Contingent Instruction Added: benefit, low. The exchange proposed a new optional "Contingent Instruction" that could be attached to Periodic Auction Only Orders. You (as a trader or trading firm) could send those special auction orders with this conditional instruction when using BYX's periodic auctions.
- New Time‑in‑Force: Auction or Cancel: benefit, low. The exchange proposed a new time‑in‑force called "Auction or Cancel." Under this option, an order is to be canceled if the periodic auction does not occur, rather than remaining on the book.
- Changes to Periodic Auction Processing: benefit, low. The exchange proposed conforming changes to how its periodic auctions are processed so they support the new Contingent Instruction and the Auction or Cancel time‑in‑force. These processing changes are intended to enable the new order behaviors on BYX.

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## Sources
- [2026-22847 on federalregister.gov](https://www.federalregister.gov/documents/2026/11/10/2026-22847/self-regulatory-organizations-cboe-byx-exchange-inc-notice-of-designation-of-longer-period-for)
- [2026-22847 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-11-10/pdf/2026-22847.pdf)

## Related
- [Previous: 2026-22846, Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2026-22846)
- [Next: 2026-22848, Order Cancelling Registrations of Certain Municipal Advisors Pursuant to Sectio…](https://policyrisk.com/federal-register/2026-22848)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-22847 (as of 2026-11-11).