Search Results for keywords:"execution price cap"

The Cboe EDGX Exchange, Inc. has proposed a rule change to amend the auction response and execution price cap for AIM and SAM auctions, which are systems designed to improve pricing for securities traders. The change involves modifying Rules 21.19 and 21.21 to allow executions at prices not limited by the initial National Best Bid or Offer (NBBO), potentially providing better price improvements for orders. This proposal aims to take advantage of price movements during auctions while ensuring that orders are executed at beneficial prices, without disadvantage to market participants. The Securities and Exchange Commission is seeking public comments on this proposed rule change.

Cboe Exchange, Inc. proposed a rule change to amend the execution price cap for auction mechanisms AIM and SAM, which are designed to improve pricing for customer orders. Currently, Agency Orders must be executed at a price no worse than the Initial NBBO. The new proposal allows these orders to potentially receive better pricing when the market changes during the auction, thus offering price savings to customers. The exchange believes this change will benefit investors by providing more opportunities for price improvement without negatively impacting competition or market integrity.