The Securities and Exchange Commission announced that the Cboe BZX Exchange is proposing a rule change to implement a new market data service called the Cboe Timestamping Service, which includes two reports: the Missed Liquidity Report and the Cancels Report. These reports will offer timestamp information on orders, quotes, and cancellations for market participants. The new service is optional, and members can choose to receive one, both, or neither report, with fees based on their selection. The rule change has been filed to become effective immediately, and the public is invited to comment on it.
Simple Explanation
The Cboe BZX Exchange wants to add a new service that helps people keep track of when things happen with their market orders, like when they make or cancel a trade. This service is like a special, optional report that costs money, but you can pick which parts you want to use.