The Cboe EDGX Exchange, Inc. has proposed a rule change to improve its process for opening trading for simple orders. This change aims to allow trading to start sooner by implementing a "forced opening" if a series is already trading on another exchange, even if certain conditions on Cboe haven't been met. The proposed change prioritizes investor interests and attempts to keep fair competition by allowing orders to start trading as soon as another market has opened them. Additionally, users can manage how their orders are handled during this process, providing flexibility and protecting against unfair trades. The Securities and Exchange Commission (SEC) is allowing this proposed rule to become effective immediately to enhance market efficiency.
Simple Explanation
Cboe EDGX Exchange wants to start trading things faster by letting orders open on their market right away if other places have already started trading them, so everything moves more smoothly and fairly. The new rule helps people control their orders better, making sure trades are fair and happen as quickly as possible.