The Cboe Exchange, Inc. submitted a proposal to the Securities and Exchange Commission to introduce the Cboe Timestamping Service, a market data service providing detailed timestamp information for orders, quotes, and cancellations. The service will consist of two reports: the Missed Liquidity Report and the Cancels Report, each optional for Cboe members. Members can choose to receive one or both reports and will be charged fees based on their selection. The SEC is inviting public comments on this proposed rule change until January 24, 2025.
Simple Explanation
Cboe Exchange wants to start a new service that tells you exactly when things happen on their market, like when someone decides to buy or sell, or when they change their mind. People can choose to get this information in special reports, but the details about how much it will cost and why it might be useful aren't very clear yet.