Cboe Exchange, Inc. has proposed a rule change to modify its opening process for simple orders on its trading platform. The main goal is to enable series to open for trading on Cboe sooner, especially if they have already opened on other options exchanges. The exchange plans to adopt a "forced opening" procedure, allowing certain series to open automatically after a set time, as long as the market conditions are met and even if they don't meet all current opening requirements. This change aims to enhance market efficiency and ensure investor protection by providing more trading opportunities.
Simple Explanation
Cboe Exchange wants to make it easier and faster for certain stocks to start trading on their platform, like when the toy store opens its doors early, so everyone gets to buy toys sooner. They're doing this by making some new rules that help open the "doors" even if not all the usual checks are done, as long as everything else looks okay.