Type:Notice
Citation:86 FR 6710
Reading Time:about 2 minutes
The Securities and Exchange Commission (SEC) has announced an extension of the review period for a rule change proposed by Cboe Exchange, Inc. The proposed rule seeks to amend Cboe's regulations regarding the minimum increments for electronic bids and offers and exercise prices of certain FLEX options. It also aims to clarify how the system ranks these bids and offers for allocation purposes. The SEC has set March 4, 2021, as the new deadline by which they will either approve, deny, or begin proceedings to potentially reject the proposed rule change.
Simple Explanation
The SEC is taking more time to think about a new rule change for trading options on a market called Cboe. They want to make sure everything is clear and fair, and will decide by March 4, 2021.