The Securities and Exchange Commission (SEC) is reviewing a proposed rule change from Cboe Exchange, Inc.. This rule change seeks to introduce Qualified Contingent Cross Orders for FLEX option trading. The SEC has extended its deadline to make a decision on whether to approve or disapprove the proposal until April 17, 2021. This extension allows the SEC more time to consider the proposal in detail, particularly after Cboe Exchange submitted two amendments modifying the original rule change.
Simple Explanation
The SEC is taking more time to decide on a rule change from Cboe Exchange that would help a type of trading order called Qualified Contingent Cross Orders be used in a special kind of options trading. They're thinking things through carefully and will decide by April 17, 2021.