Cboe EDGX Exchange, Inc. has proposed a rule change to allow Trading Permit Holders (TPHs) to opt out of the automated adjustment of auction prices when these prices are outside the National Best Bid and Offer (NBBO) at the time of receipt. This proposal was filed with the Securities and Exchange Commission (SEC) and is set to take immediate effect, though the SEC will accept comments on the proposal from the public. Interested parties can submit comments via the SEC's website or by email, mentioning file number SR-CboeEDGX-2025-001 in their submissions. The proposal details and public comments will be available on the SEC's website.
Simple Explanation
Cboe EDGX Exchange wants to let some traders choose not to automatically change prices if they see better ones, and the SEC is letting this happen right away while they listen to people’s opinions about it.