2025-07706Notice

Cboe BYX Eyes Better Deals on Sub-$1 Stocks with SEC Delay

Published Date: 5/5/2025

Notice

Summary

Cboe BYX Exchange wants to improve its Retail Price Improvement (RPI) program by adding a cooler Enhanced RPI Order and including stocks priced under $1. The SEC is taking extra time, now until June 18, 2025, to decide if these changes get the green light. This affects traders and investors who could see better prices and more options soon!

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Proposal: New Enhanced RPI Order

Cboe BYX filed a proposed rule change on March 13, 2025, to modify Rule 11.24 to introduce an "Enhanced RPI Order." The Securities and Exchange Commission has until June 18, 2025, to approve, disapprove, or institute proceedings on that proposal.

Proposal: RPI Program for Sub-$1 Securities

Cboe BYX proposed expanding its Retail Price Improvement (RPI) Program to include securities priced below $1.00. The SEC extended its review and will act by June 18, 2025, on whether to approve or disapprove that proposed expansion.

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Key Dates

Published Date
Effective Date
5/5/2025
6/18/2025

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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